Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the budget to hire an accountant, performing the task on your own could be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can help you. Although this is quite a long read it is possible to determine if TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? Vs Versus Vs
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with your sales taxes. It simplifies the processes that can 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 business owners who run online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your key metrics in one place. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll dig at both.
If you opt 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, the team will instruct you on managing the tax returns. But, it is up for you and your staff to complete the process on time. TaxJar is only there to help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales taxes to recording and processing them. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce 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 all the information you need, like an inventory of your transactions, reports and the data.
The best part about this feature is that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals in your business. It is also possible to export the information in CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller company owner, this plan will be perfect for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. Vs Versus Vs
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they have tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your mind around it. Vs Versus Vs
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better off doing it on your own.
FAQ Vs Versus Vs
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, 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 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. All transactions are in US$. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate the tax.