Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly 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 employ an accountant, performing the task on yourself can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. While this is an extensive read it is possible to assess whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Check out 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 dive right in.
What is TaxJar TaxJar Tax Holidays
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on how to handle them. But, it is up to you and your team to complete the process within the timeframe. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax to recording and processing it. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports and the data.
The best part about this option is the fact that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. It is also possible to export your data in a CSV file, if you want to use it in your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything related to sales tax. Check out their guides, webinars, and blog for more details. Apart from that, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most effective plan if you need help in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan could be ideal for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basic features, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrations, team members and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Tax Holidays
However, they did say that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it help you track the sales and profits of your business however, it will assist you in meeting your deadlines. It is also a great platform for an accountant since they provide a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Tax Holidays
If handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Tax Holidays
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar can calculate your tax.