Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. If you don’t have enough money to engage an accountant doing it on yourself can be risky. If you overlook one thing it could mean you need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is what you need right now.
Prefer video streaming instead? 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, let’s get right into it.
What is TaxJar? TaxJar Warehouse
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is connect TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For this review, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on managing them. But, it is up to you and your staff to complete the process in time. TaxJar will only help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional charges if they are 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. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports, as well as information.
The best part about this option is the fact that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. Additionally, you can export your data in CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional information. Apart from that the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something that is more than the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and 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 you need to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Warehouse
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to determine if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- Allows you to track multiple 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
- Owners and accountants should review local laws
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 do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to meet. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Warehouse
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Warehouse
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar will calculate the tax.