Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant doing it on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. While this is a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? What Is TaxJar-Php
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar is used in different industries such as food and beverage businesses, 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 take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to gather data from different channels and organize it into one platform. All you have to do is connect TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. But, it is up for you and your team members to finish the tax returns on time. TaxJar is there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. It is also possible to export the data in the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more information. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for that is more than the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for an upgrade instead. It has all of the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. What Is TaxJar-Php
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need for your business.
Luckily, 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 different options, they offer 30 days of free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has 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.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will certainly help you to get your head around it. What Is TaxJar-Php
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ What Is TaxJar-Php
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.
Can I connect Shopify together 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 using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate the tax.