Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, performing the task on your own can be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is what you need in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Using Once And Canceling Reddit
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings 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 make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key data in one location. So, there’s no need to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar it will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. In our review we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage these. However, it will be up to you and your staff to complete everything within the timeframe. 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, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your staff will have access to everything you need, such as an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only can they help to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
The dashboard allows you to see the total sales tax within your company. Additionally, you can export the information to the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this feature can help them be 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 available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also for anything related to sales tax. Check out their webinars, guides and blog for more details. Apart from that their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get different from the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Using Once And Canceling Reddit
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your company.
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax 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
- You can track several sales channels
- Limits on AutoFile are determined by 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 numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it assist you in keeping track of your products and revenue It can also help you meet your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar Using Once And Canceling Reddit
However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Using Once And Canceling Reddit
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.