Taxes are always one of the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, performing the task on yourself can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Upload Fields
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take 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 establishments.
What can it do to help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no need to collect information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For this review, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. But, it is up to you and your staff to finish the tax returns on time. TaxJar is there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together 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 information.
The best part about this feature is that they allow you to update automatically every day. They not only let to know the amount you’ve earned, but they also help 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 the information in the form of a CSV file in case you require it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to search for your documents when you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides, or blog posts for additional info. Additionally their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for premium plans instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Upload Fields
However, they did say that this plan is customized for each user. So the costs will vary 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 considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will help you meet your deadlines. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this will definitely help you get your head around it. TaxJar Upload Fields
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
FAQ TaxJar Upload Fields
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar can calculate your tax.