Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant making it yourself can be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
What can we do ?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. While this is a long read, you should be able to gauge whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Turbotax
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. For this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your team to complete the process on time. TaxJar is there to guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use 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. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports and the data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to see the sales tax totals in your business. It is also possible to export your data as CSV format. CSV file if you need it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more info. Apart from that the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as 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 small company manager, the plan should be ideal 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 the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for that is more than the standard features Professional may be the best option for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to go for an upgrade instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of members as well as AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Turbotax
But they did state that this plan is tailor-fit for every user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they offer tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will certainly help you to get your head around it. TaxJar Turbotax
But if handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ TaxJar Turbotax
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar can calculate the tax.