Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to hire an accountant, making it your own can be risky. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. Although this is quite a long read it is possible to determine if TaxJar is exactly what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Yearly Price
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, it will take care of the rest.
Other than 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 allows clients to file their sales taxes manually or through the AutoFile feature. For this review, we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to handle these. It is up to you and your team members to complete everything within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team can access everything you need, like a list of your transactions, reports and the data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. Additionally, you can export the information as CSV format. CSV file, if you want to use it for your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can look through their guides, webinars, and blog for more info. Additionally, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business owner, this plan could be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team users and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Yearly Price
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 see if this platform 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 software is an excellent fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has the 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 simple to navigate
- Offers a 30-day free trial
- 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
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar Yearly Price
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 track all of it. In addition, if you find the whole procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Yearly Price
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate the tax.