Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to employ an accountant, making it your own can be risky. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Whmcs TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to keep everything 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 make sure you have a tax accounting platform is compatible along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to manage these. It is up for you and your staff to finish the tax returns in time. TaxJar is only there to guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process them. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you require, including a list of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let you keep track of how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. You can also export the data in the form of a CSV file if you need it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for different from the basic features Professional could be the one for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. Whmcs TaxJar
However, they did say that the plan is custom-made for every user. So the costs will vary 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 find out if the platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it help you track your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. Whmcs TaxJar
If handling taxes is easy, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete, you might be better in doing it all on your own.
FAQ Whmcs TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar determines the tax.