Taxes have always been among the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. While this is an extensive read, you should be able to assess whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar Websites Like TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. This means that there is no need to gather information from multiple sources and sort it into a single 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 of the platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. In our review we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to handle these. It is up for you and your team members to complete the process in time. TaxJar will only help you understand what you have to 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 any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports, and the data.
The best part about this option is the fact that they allow you to update your account automatically each day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. Additionally, you can export the data as the form of a CSV file in case you require it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. Even when you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides or blog posts for additional info. Apart from that the sales tax calculator is useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand 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 take a look at TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business owner, this plan should be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for a bit more than just the standard features Professional could be the one for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the original plan?
Apart from having access to every one of 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.
Premium
If you have a massive business, you might need to go for premium plans instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team users, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal the amount that the Premium plan costs you. Websites Like TaxJar
However, they did mention that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see if the platform is the right choice for you.
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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 we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If that’s what you do, then you ought to try this.
Not only will it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can definitely help you get your mind around it. Websites Like TaxJar
But if handling your taxes is straightforward, then TaxJar might not be a good 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 entire procedure easy to complete, you might be better off doing it on your own.
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FAQ Websites Like TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines your tax.
