Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to engage an accountant making it your own can be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar With Stripe Checkout
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need 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 lets you display your most important metrics in one spot. This means that there is no need to gather data from different channels and sort it into a single platform. All you have to do is connect TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar is there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online 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 everything you require, including a list of your transactions, reports and information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the overall sales taxes in your business. Additionally, you can export your data in a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to search for your documents when you need them in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate 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 and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides, or blog posts for additional information. Additionally, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial 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 structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan will be perfect for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the basic features Professional may be the best option for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar With Stripe Checkout
But they did state that this plan is tailor-fit for every user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one 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 a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar With Stripe Checkout
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with 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 process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar With Stripe Checkout
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar determines the tax.