Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
What can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. Even though this is a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Student Subscription
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax platform is compatible with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage these. However, it will be up for you and your staff to finish the tax returns on time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports, as well as data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the information in CSV format. CSV file if you need it for your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. Check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the basics Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to go for an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Student Subscription
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize, here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around the subject. TaxJar Student Subscription
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Student Subscription
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate your tax.