Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to engage an accountant doing it on yourself can be dangerous. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Unlocked
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting software is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar and the platform 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 that they can connect with:
TaxJar allows customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. It is up to you and your team members to complete everything on time. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you need, like the list of transactions, reports and the data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. Additionally, you can export your data in the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides, and blog for more info. Apart from that their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to opt for premium plans instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge how much the Premium plan costs you. TaxJar Unlocked
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your company.
Fortunately, you don’t need to risk your money to find out if the platform 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. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. It is also a great option for accountants as they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Unlocked
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ TaxJar Unlocked
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar determines your tax.