Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re 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, you might have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Webinar
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s look into their features and services.
Features and services
One of the first things you’ll need to ensure is your tax-reporting system is compatible with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one place. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to handle these. It is up for you and your team to complete the process on time. TaxJar will only help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes in order to record and process it. There could be additional costs if the feature is 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. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. Not only will they let you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. You can also export your data to CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also everything related to sales tax. Check out their webinars, guides or blog posts for additional details. Additionally, their sales tax calculator should be 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. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements and reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan could be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
You can also contact their customer support 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 basic features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Webinar
But they did state that this plan is customized to each user. The cost of the plan will be different in line with what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to determine whether the software is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers 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 able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that’s what you do, then you should try this.
Not only will it help you track the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your mind around it. TaxJar Webinar
If handling your taxes is simple, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow, you might be better off doing it by yourself.
FAQ TaxJar Webinar
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar will calculate the tax.