Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Check out 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 dive right in.
What is TaxJar TaxJar Washington Youtube
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For our review we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on how to handle these. But, it is up to you and your staff to finish the tax returns in time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff can access everything you require, including the list of transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax for your business. Additionally, you can export the information as a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can look through their webinars, guides, and blog for more details. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan could be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data API integrationsfor team users, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Washington Youtube
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar Washington Youtube
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
FAQ TaxJar Washington Youtube
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate your tax.