Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant doing it on your own could be risky. If you overlook one thing, you might have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
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 life-saving device and how it can benefit you. Although this is quite a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar What Does TaxJar Cost Per Month
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. So, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on managing the tax returns. But, it is up for you and your team members to complete everything within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you require, including an inventory of your transactions, reports, as well as information.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. Additionally, you can export your data as the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but all things related to sales tax. You can look through their webinars, guides as well as their blog to find more details. Apart from that their sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business owner, this plan will be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something a bit more than just the basics Professional may be the best option for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to choose premium plans instead. It includes all of the features needed to help with your taxes. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the amount that the Premium plan costs you. What Does TaxJar Cost Per Month
But they did state that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you should 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
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax 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.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around it. What Does TaxJar Cost Per Month
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ What Does TaxJar Cost Per Month
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate 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 doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar can calculate the tax.
