Taxes have always been one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on your own can be risky. If you miss one detail it could mean you have to do it all over again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is a long read but you’ll be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Us
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. In our 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 manage them. However, it will be up to you and your team members 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’d prefer an Auto file, TaxJar will do the filling – that means 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 through recording, and then processing it. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from 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 require, including an inventory of your transactions, reports and the data.
The best part about this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes for your business. You can also export the information in the form of a CSV file if you need it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides, and blog for more information. In addition the sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, four autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get that is more than the basic features Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to opt for an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Us
However, they did mention that the plan is custom-made for each user. So the costs will vary in line with what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has a 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that’s what you’re doing, then you ought to try this.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Us
However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar Us
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to USUSD prior to when TaxJar will calculate the tax.
