Taxes have always been among the most difficult things to handle 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, especially when your whole day is full of things to be done. If you don’t have the budget to engage an accountant making it your own can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar When Taxes Refund
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, 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 ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key 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, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to handle these. It is up to you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports and information.
The best part about this feature is that they allow you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. Additionally, you can export your data to CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better 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 webinars, guides, and blog for more details. Additionally their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for a bit more than just the basic features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for premium plans instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team users, and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. When Taxes Refund
However, they did say that the plan is custom-made for every user. The cost of the plan will be different depending on what you need to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save 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 have access to the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your products and revenue however, it will help you meet your deadlines. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in an area with complex tax regulations, this will certainly help you to get your head around the subject. When Taxes Refund
If handling your taxes is simple, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do then you’re better off doing it by yourself.
FAQ When Taxes Refund
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate 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 type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines the tax.