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 tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Tax Calculation Method Based On Total Includes Shipping?
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key data in one location. This means that there is no requirement to collect data from different channels and sort it into a single 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 to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up to you and your team members to complete the process in time. TaxJar will only provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier 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. Once you’re on the platform, you and your team will have access to everything you require, including an inventory of your transactions, reports and information.
The best part about this option is the fact that they allow you to automatically update every day. Not only will they let to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the total sales tax for your business. Additionally, you can export the data to a CSV file if you need it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep 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 will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides, and blog for more information. Apart from that the sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company manager, the plan could be ideal for you. It might not include all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for something different from the standard features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Tax Calculation Method Based On Total Includes Shipping?
However, they did say that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of making 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
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is 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 provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to help you track your products and revenue, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Tax Calculation Method Based On Total Includes Shipping?
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow, you might be better to do it by yourself.
FAQ TaxJar Tax Calculation Method Based On Total Includes Shipping?
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate your tax.