Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to engage an accountant making it your own can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What exactly is TaxJar? Using TaxJar Without Activated Stripe Account
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you have to do is connect TaxJar, it will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage these. But, it is up for you and your staff to complete everything in time. TaxJar is only there to guide you on what you should do but not 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 will be automated from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. It is also possible to export the data to the form of a CSV file in case you require it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company owner, this plan could be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to choose premium plans instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge the price of the Premium plan. costs you. Using TaxJar Without Activated Stripe Account
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that’s what you’re doing, then should try this.
It’s not just a way to aid in tracking the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. Using TaxJar Without Activated Stripe Account
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of 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’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ Using TaxJar Without Activated Stripe Account
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar will calculate the tax.