Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, making it your own could be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? V&J Taxes
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even 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 look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no requirement to collect information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. In our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to handle the tax returns. But, it is up to you and your team to complete the process on time. TaxJar is only there to help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you require, including an inventory of your transactions, reports and information.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. It is also possible to export the data in a CSV file if you need it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides and blog for more info. Apart from that the sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan could be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose premium plans instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. V&J Taxes
But they did state that this plan is customized for each user. So the costs will vary depending on what you need for your company.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has a 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 easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you should try this.
Not only can it help you track your products and revenue however, it will help you meet your deadlines. It is also a great platform for an accountant since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and requirement you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. V&J Taxes
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete then you’re better off doing it by yourself.
FAQ V&J Taxes
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of 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 for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar determines the tax.