Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Although this is quite a long read but you’ll be able to assess whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? Wa Taxes Wrong TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your key data in one location. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on managing the tax returns. It is up to you and your team to complete the process within the timeframe. TaxJar will only guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes within your company. Additionally, you can export the data in the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. You can check out their webinars, guides, or blog posts for additional information. In addition the sales tax calculator is beneficial when 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 features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at 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 is priced at $19. They say it’s the best plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan will be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something that is more than the standard features and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team users and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Wa Taxes Wrong TaxJar
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to aid in tracking your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. Wa Taxes Wrong TaxJar
If handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better in doing it all by yourself.
FAQ Wa Taxes Wrong TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate your tax.