Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail it could mean you have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. Even though this is a long read it is possible to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar? TaxJar With Squarespace
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to manage these. It is up for you and your team to complete the process in time. TaxJar will only help you understand what you have 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 the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you need, such as the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve earned, but they also help you track when your following payments are due.
The dashboard allows users to view in detail the total sales tax within your company. It is also possible to export the data as CSV format. CSV file in case you require it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but all things that has to do with sales tax. You can look through their webinars, guides, and blog for more info. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller company owner, this plan should be ideal for you. It may not have all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the basic features Professional might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar With Squarespace
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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 valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will surely help you wrap your head around it. TaxJar With Squarespace
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar With Squarespace
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines your tax.