Taxes are always one of the hardest things to do, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the funds to engage an accountant doing it on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can help you. Although this is quite an extensive read, you should be able to determine if TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Webinars
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. That way, there’s no need to collect data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar, then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. It is up to you and your team members to complete everything in time. TaxJar is only there to guide you 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 won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, and the data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the information to the form of a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but everything related to sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small business owner, this plan could be perfect for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to go for premium plans instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Webinars
However, they did mention that this plan is customized for each user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor 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 applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you should 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 platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Webinars
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Webinars
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar determines the tax.