Taxes have always been among the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant doing it on your own can be risky. If you miss one detail, you might have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is an extensive read, you should be able to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Support
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage these. However, it will be up to you and your staff to complete everything on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff will have access to everything you need, such as a list of your transactions, reports, as well as data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned, but they also help you track when your following payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. It is also possible to export the data to a CSV file in case you require it in your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things connected to sales tax. You can check out their webinars, guides, or blog posts for additional info. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basic features Professional might be the right one for you. It 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 support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for an upgrade instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Support
However, they did mention that this plan is customized for each user. So the costs will vary in line with what you require for your company.
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- 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 for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products It can help you meet the deadlines you set. It is also a great opportunity for accountants since they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar Support
But if handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Support
What areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with 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 using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate the tax.