Taxes have always been one of the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar,Com
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on how to manage these. It is up for you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you should do , but not to handle it.
If you’d 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. With this feature, everything is automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, such as an inventory of your transactions, reports and data.
The most appealing aspect of this feature is that it allows you to automatically update every day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax in your business. Additionally, you can export the data as CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but for anything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish 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 what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for the Premium plan instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar,Com
But they did state that this plan is customized for every user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple 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 valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
Not only can it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar,Com
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow then you’re better off doing it by yourself.
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.