Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to hire an accountant, making it yourself can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can assist you. Even though this is a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? Where Are Amazon Warehouses Located TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. That way, there’s no need to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to manage these. It is up for you and your team members to finish the tax returns in time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have 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. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. From there, you and your team will have access to everything you need, like the list of transactions, reports, and the data.
The best part about this feature is that it lets you to update your account automatically each day. Not only can they help to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. You can also export the information as the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents when you need them in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements or reporting. It includes the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business proprietor, then this program should be ideal for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose how much the Premium plan is going to cost. Where Are Amazon Warehouses Located TaxJar
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require for your company.
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on 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 review local laws
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 this sounds like the way you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your products and revenue It can help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. Where Are Amazon Warehouses Located TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ Where Are Amazon Warehouses Located TaxJar
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar determines your tax.