Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to hire an accountant, making it your own can be risky. If you miss one detail, you might have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory 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.
This article will take a look at this life-saving tool and explain how it can assist you. Even though this is a long read, you should be able to determine if TaxJar is what you need in the present.
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 the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? What Is TaxJar Mission Statement?
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized 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 widely used by online business owners to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting platform is compatible along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. That way, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage them. It is up for you and your staff to complete the process in time. TaxJar will only help you understand what you should do but not handle 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 through recording, and then processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, like the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let you keep track of how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export the data in CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional info. Apart from that their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the basic features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. What Is TaxJar Mission Statement?
However, they did mention that this plan is customized for every user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to help you track the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around the subject. What Is TaxJar Mission Statement?
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ What Is TaxJar Mission Statement?
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar can calculate your tax.