Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, performing the task on yourself can be risky. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. Although this is quite a long read but you’ll be able to assess whether 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 provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Where Change To Quarterly Filing
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s look into their features and services.
Features and services
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and sort it into one platform. All you need to do is connect TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look at 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 income tax returns The team will guide you on how to manage the tax returns. But, it is up to you and your team to complete everything in time. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team can access everything you require, including a list of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes within your company. Additionally, you can export the information to CSV format. CSV file if you need it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more info. Apart from that their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts 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. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not have all the features of TaxJar, but it has all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for different from the standard features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do 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 opt for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar Where Change To Quarterly Filing
However, they did say that the plan is custom-made for each user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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 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 down, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you should try this.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will certainly help you to get your head around the subject. TaxJar Where Change To Quarterly Filing
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do then you’re better off doing it by yourself.
FAQ TaxJar Where Change To Quarterly Filing
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar will calculate your tax.