Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks 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, doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar Via Google Sheets
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle these. It is up to you and your staff to finish the tax returns on time. TaxJar will only help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports and information.
The most appealing aspect 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 however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes for your business. It is also possible to export the data to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things 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 their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and the features that 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 and reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan will be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Via Google Sheets
But they did state that the plan is custom-made to each user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar to run your business.
- 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 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.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around the subject. TaxJar Via Google Sheets
If handling your taxes is straightforward and straightforward, 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 all of it. In addition, if you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Via Google Sheets
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.