Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, performing the task on your own could be risky. If you make a mistake, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Although this is quite lengthy it is possible to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Vp People
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. So, there’s no need to collect data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to handle them. It is up for you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you require, including the list of transactions, reports, as well as data.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. You can also export your data as CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you 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 in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional information. Additionally, their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand 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 examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the standard features Professional might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Vp People
But they did state that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to see 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 relax. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
- Has the 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 easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Vp People
But if handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Vp People
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 incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate your tax.