Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant performing the task on your own could be risky. If you miss one detail it could mean you have to redo things again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy it is possible to determine if TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Tax Rate Based On Ip Address
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 all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to gather data from different channels and sort it into a single platform. All you have to do is connect TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like the list of transactions, reports, and the data.
The best part about this feature is that it allows you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. Additionally, you can export the information to CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to scramble for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more details. In addition their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you in filing and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan will be perfect for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Tax Rate Based On Ip Address
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to risk your money to determine if this service is 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 whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this can definitely help you get your head around it. TaxJar Tax Rate Based On Ip Address
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Tax Rate Based On Ip Address
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar will calculate your tax.