Taxes have always been among the hardest things to do, whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, doing it on your own can 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 skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? 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, we’ll dive right into.
What is TaxJar What Is TaxJar Core Vision
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no requirement to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on managing these. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as the data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve earned 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 see the total sales tax for your business. Additionally, you can export the information as a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature can 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 know exactly how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. You can check out their webinars, guides or blog posts for additional information. Additionally the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something that is more than the basic features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. What Is TaxJar Core Vision
However, they did say that this plan is customized to each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has 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
- Limits on AutoFile are determined by 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 review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your head around the subject. What Is TaxJar Core Vision
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do, you might be better to do it on your own.
FAQ What Is TaxJar Core Vision
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync 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 cannot convert currency values. The transactions are in US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate your tax.