Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, doing it on your own could be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar? Upload Orders To TaxJar For Reposrting
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to gather data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to handle the tax returns. But, it is up for you and your team members to complete the process within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales taxes to recording and processing it. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including the list of transactions, reports, as well as the data.
The best part about this option is the fact that it lets you to update automatically every day. Not only will they let you know how much you’ve earned, but they also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. It is also possible to export your data in a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. Check out their guides, webinars, or blog posts for additional information. Additionally their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business owner, this plan could be ideal for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for an upgrade instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. Upload Orders To TaxJar For Reposrting
However, they did say that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize 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 help save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar will help you get more done while keeping track of every deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Upload Orders To TaxJar For Reposrting
If handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Upload Orders To TaxJar For Reposrting
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account with 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 transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar will calculate the tax.