Taxes are always one of the most difficult things to handle 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 tasks can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to employ an accountant, making it yourself can be risky. If you miss one detail, you might have to redo things again!
Almost everyone wants to skipping 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 make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is a long read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? 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 is TaxJar? Washington TaxJar Amazon
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. 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. So, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar, and the platform will handle 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 platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look at 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 the filing of income tax returns The team will guide you on how to manage the tax returns. But, it is up for you and your team to complete everything on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your team will have access to everything you need, such as an inventory of your transactions, reports and data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export your data to the form of a CSV file if you need it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company owner, this plan will be perfect for you. It may not offer all the features of TaxJar, but it has the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan might be the right one for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the original 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, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to go for an upgrade instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Washington TaxJar Amazon
But they did state that this plan is customized for each user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re in an area with complex tax regulations, this will certainly help you to get your head around it. Washington TaxJar Amazon
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
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FAQ Washington TaxJar Amazon
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.
