Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the budget to hire an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite an extensive read it is possible to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Tax Exempt Wholesale
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you have to do is integrate TaxJar, and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. In this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on managing these. However, it will be up to you and your team members to complete the process on time. TaxJar will only guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. It is also possible to export the data as a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being 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 better how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything connected to sales tax. You can check out their webinars, guides and blog for more information. Additionally their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business owner, this plan could be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for something a bit more than just the standard features Professional 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 original plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to choose premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Tax Exempt Wholesale
However, they did say that this plan is customized for each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- 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 review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar Tax Exempt Wholesale
However, if managing your taxes is simple, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Tax Exempt Wholesale
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier 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 transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar will calculate your tax.
