Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to employ an accountant, performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require right now.
Do you prefer video streaming instead? Check out 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 we’ll dive right into.
What is TaxJar? What Is TaxJar Shopping Cart
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need 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 place. This means that there is no need to gather data from different channels and sort it into a single platform. All you need to do is connect TaxJar, and the platform 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 make sales tax filings by hand or using their AutoFile feature. In this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns The team will guide you on managing the tax returns. It is up to you and your staff to complete everything on time. TaxJar will only guide you on what you need to accomplish, but not manage 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 any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. It is also possible to export the information in CSV format. CSV file in case you require it in your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything 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 take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking to get a bit more than just the basics, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large business, you might need to choose the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. What Is TaxJar Shopping Cart
But they did state that the plan is custom-made for every user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several 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 applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it aid in tracking your revenue and products, but it can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can certainly help you to get your mind around it. What Is TaxJar Shopping Cart
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do then you’re better to do it on your own.
FAQ What Is TaxJar Shopping Cart
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar determines your tax.