Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the budget to hire an accountant, doing it on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Transactions Delete
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is 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 your sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle these. It is up to you and your staff to complete everything in time. TaxJar is there to guide you on what you have 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 all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize 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. From there you and your team will have access to all the information you require, including an inventory of your transactions, reports, and data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let to know the amount you’ve earned, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. You can also export your data to a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It also includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan could 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 customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for the Premium plan instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Transactions Delete
However, they did say that the plan is custom-made for each user. So the costs will vary in line with what you require for your company.
It’s a good thing that 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 30 days of free trial. This should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- 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 review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re in an area with complex tax regulations, this will certainly help you to get your head around the subject. TaxJar Transactions Delete
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Transactions Delete
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar determines the tax.