Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, making it your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to assess whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Taxable Purchases
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by owners of 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 first things you’ll need to ensure is your tax-reporting platform is compatible along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar, then the system will take care of all the rest.
In addition, 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 allows customers to submit their sales tax either manually or via their AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns, the team will instruct you on managing these. However, it will be up to you and your team to finish the tax returns in time. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to see the total sales tax within your company. You can also export your data to a CSV file in case you require it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything related to sales tax. Check out their webinars, guides and blog for more information. Additionally their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale business manager, the plan could be perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get different from the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team members as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Taxable Purchases
However, they did mention that this plan is customized for every user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it help you track 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 find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar Taxable Purchases
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do, you might be better off doing it by yourself.
FAQ TaxJar Taxable Purchases
What areas does TaxJar offer API assistance?
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 to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar determines your tax.