Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have the budget to employ an accountant, doing it on yourself can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. While this is lengthy it is possible to determine if TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar Using TaxJar One Time
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform is compatible with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to gather data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up to you and your staff to complete the process on time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to all the information you require, including the list of transactions, reports and information.
The best part about this option is the fact that it lets you to automatically update every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the information as CSV format. CSV file, if you want to use it to aid in 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 your sales channels. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides and blog for more info. In addition their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the best plan to help you in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan could be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get that is more than the basics and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add 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 support via phone Access to APIs, phone support, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrations, team members as well as AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. Using TaxJar One Time
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize, here are the pros and cons of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can 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 applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will certainly help you to get your head around it. Using TaxJar One Time
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow, you might be better off doing it by yourself.
FAQ Using TaxJar One Time
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar determines your tax.