Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is a long read, you should be able to assess whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Trial
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
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 must maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing these. However, it will be up for you and your team to complete the process on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process them. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows you to fully view the sales tax totals within your company. You can also export your data in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. Check out their guides, webinars, or blog posts for additional info. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
Apart from 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 sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose premium plans instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Trial
However, they did say that the plan is custom-made to each user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of using TaxJar for your business.
- There is 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 easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several 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 valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that’s what you do, then you should try this.
Not only will it help you track your products and revenue It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Trial
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Trial
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar determines the tax.