Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So what can we do ?
We can always make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? What Is TaxJar Company History?
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your key metrics in one spot. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on how to handle these. It is up for you and your team members to complete everything in time. TaxJar is only there to guide you on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports, as well as the data.
The best part about this feature is that they allow you to update automatically every day. They not only let you keep track of how much you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. You can also export the data to a CSV file if you need it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. You can check out their guides, webinars, as well as their blog to find more information. In addition the sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements or 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 smaller business manager, the plan will be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something different from the basics Professional might be the right one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. What Is TaxJar Company History?
But they did state that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple 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
- 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
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will definitely help you get your mind around it. What Is TaxJar Company History?
But if handling taxes is easy, 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. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ What Is TaxJar Company History?
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in US$. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar determines the tax.