Taxes are always one of the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to hire an accountant, doing it on your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is lengthy it is possible to gauge whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Whmcs
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to collect data in multiple channels and organize it into a single platform. All you need to do is to integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. For our review we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on managing these. It is up to you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals within your company. It is also possible to export the information as a CSV file if you need it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature will make them 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 better how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides and blog for more info. Apart from that, their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something that is more than the basic features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to choose premium plans instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar Whmcs
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize Here are the pros and cons of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you should try this.
Not only can it help you track the sales and profits of your business however, it will help you meet your deadlines. It is also a great opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this can definitely help you get your head around it. TaxJar Whmcs
But if handling taxes is easy, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do, you might be better off doing it on your own.
FAQ TaxJar Whmcs
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect 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 currencies. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar will calculate your tax.