Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage an accountant doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , 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 explain how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar When Taxes Start
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply 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 can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on how to handle them. It is up for you and your team to finish the tax returns in time. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With 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 I mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let to know the amount you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the sales tax totals in your business. You can also export the data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but everything that has to do with sales tax. Check out their webinars, guides or blog posts for additional information. In addition the sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale business manager, the plan should be ideal for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics Professional could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrations, team users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. When Taxes Start
However, they did mention that this plan is tailor-fit for every user. So the costs will vary according to what you require to run your business.
Free Trial
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 considering different options, they offer a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great 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 will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around the subject. When Taxes Start
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ When Taxes Start
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar will calculate your tax.
