Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, making it your own can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is a long read it is possible to assess whether TaxJar is exactly what you need right now.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Tax Codes
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is integrate TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. In this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage these. But, it is up to you and your staff to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you require, including a list of your transactions, reports, and information.
The best part about this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the information to a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but everything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more details. Apart from that the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program could be ideal for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for premium plans instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrationsfor team members and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Tax Codes
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different according to 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 right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar Tax Codes
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Tax Codes
Which areas does TaxJar provide API support?
TaxJar currently works with 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 make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.