Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to engage an accountant making it your own could be dangerous. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar To Quickbooks Desktop
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar, and the platform will handle the rest.
Apart from 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:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on how to manage them. But, it is up to you and your team members to finish the tax returns in time. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team can access everything you require, including a list of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. It is also possible to export your data in CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also everything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the basics Professional may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to choose an upgrade instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team users as well as AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar To Quickbooks Desktop
But they did state that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge if the platform 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 breather. To summarize, here are the pros and cons of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you should try this.
Not only can it help you track your products and revenue, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline and requirement 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 To Quickbooks Desktop
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do, you might be better in doing it all on your own.
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FAQ TaxJar To Quickbooks Desktop
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync 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 another currency, you’ll need to convert it into US$ prior to when TaxJar determines your tax.
