Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to employ an accountant, making it yourself can be risky. If you make a mistake, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. While this is a long read, you should be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at 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 Under $5
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting software seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar it will take care of the rest.
In addition, 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:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar is only there to help you understand 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 won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like an inventory of your transactions, reports, and data.
The best part about this feature is that they allow you to update automatically every day. Not only can they help you know how much you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax in your business. You can also export the data in a CSV file in case you require it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. 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 and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more details. Apart from that the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan will be ideal for you. It may not have all of TaxJar’s features, but it has the basic features you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the basics Professional could be the one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for premium plans instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Under $5
But they did state that the plan is custom-made to each user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is 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 need to know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that sounds like what you do, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will help you meet your deadlines. It is also a great platform for an accountant since they have tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Under $5
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Under $5
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines your tax.