Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to hire an accountant, making it your own can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Although this is quite lengthy, you should be able to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Terms And Conditions
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. But, it is up for you and your staff to finish the tax returns in time. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce 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 an inventory of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. You can also export your data as the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides and blog for more details. Additionally their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan will be ideal for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basics Professional could be the one for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service 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 own a huge company, you may need to opt for an upgrade instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Terms And Conditions
However, they did mention that this plan is customized for each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to determine whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that’s what you do, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Terms And Conditions
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Terms And Conditions
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar can calculate your tax.