Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have enough money to employ an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you have to redo things again!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So , what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Even though this is lengthy but you’ll be able to determine if TaxJar is what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Tax Rates
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is 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 make sure is your tax-reporting system perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show 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 have to do is connect TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. In this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle these. It is up to you and your staff to complete everything on time. TaxJar is there to help you understand 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. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of this option is the fact that they allow you to automatically update every day. They not only let you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the total sales tax within your company. Additionally, you can export your data to a CSV file in case you require it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can check out their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Tax Rates
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to determine whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Tax Rates
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for 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 to do it by yourself.
FAQ TaxJar Tax Rates
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar determines your tax.