Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the funds to employ an accountant, doing it on your own could be risky. If you make a mistake, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required 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 how it can help you. While this is lengthy it is possible to assess whether TaxJar is exactly what you need today.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? Who Is TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, 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 simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your most important metrics in one place. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income The team will guide you on how to handle them. But, it is up to you and your team to complete the process in time. TaxJar will only help you understand what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team will have access to all the information you need, such as the list of transactions, reports, and data.
The greatest benefit of this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. You can also export the information in a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but for anything related to sales tax. Check out their guides, webinars, or blog posts for additional info. Apart from that the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get different from the standard features Professional might be the right one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to choose an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Who Is TaxJar
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your business.
Luckily, you don’t have to risk your money to see if this platform is right for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it help you track your products and revenue It can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will definitely help you get your mind around it. Who Is TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ Who Is TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate your tax.