Taxes have always been 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 background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant making it yourself can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is an extensive read, you should be able to gauge whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Test
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales 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 minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. That way, there’s no need to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In our review we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including a list of your transactions, reports, and the data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals within your company. Additionally, you can export the information to CSV format. CSV file if you need it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, and blog for more information. Apart from that their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company manager, the plan will be perfect for you. It may not have all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar Test
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has 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.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to 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 is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Test
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Test
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar determines the tax.
