Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to employ an accountant, doing it on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Traditions
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on managing these. However, it will be up for you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like the list of 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. Not only can they help you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the sales tax totals within your company. You can also export your data as CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. Additionally their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing 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 these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the basics Professional could be the one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Traditions
However, they did say that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you ought to try this.
Not only will it help you track the sales and profits of your business It can help you meet the deadlines you set. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar Traditions
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Traditions
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines the tax.