Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to employ an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. While this is a long read but you’ll be able to gauge whether TaxJar is the tool you require today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar TaxJar What If I Over Pay Taxes
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar, it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to handle these. But, it is up to you and your team members to finish the tax returns within the timeframe. TaxJar will only guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to all the information you require, including a list of your transactions, reports and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals for your business. Additionally, you can export your data in a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also everything that has to do with sales tax. You can look through their guides, webinars, and blog for more details. Apart from that the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the basic features, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large business, you might need to choose premium plans instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar What If I Over Pay Taxes
However, they did mention that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of 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 company.
- Has 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 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar What If I Over Pay Taxes
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar What If I Over Pay Taxes
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar determines the tax.