Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing, you might need to repeat the process!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. While this is a long read but you’ll be able to gauge whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Who Is The Owner Of TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one spot. So, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. It is up to you and your team to complete everything within the timeframe. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as a list of your transactions, reports and data.
The best part about this feature is that it allows you to update your account automatically each day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows users to view in detail the total sales tax within your company. You can also export your data to the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can look through their guides, webinars, and blog for more info. In addition their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale company owner, this plan could be ideal for you. It may not offer all the features of TaxJar but it comes with 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 capabilities.
If you’re looking to get a bit more than just the standard features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal how much the Premium plan costs you. Who Is The Owner Of TaxJar
But they did state that this plan is customized for each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can 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 be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using 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 can certainly help you to get your head around it. Who Is The Owner Of TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Who Is The Owner Of TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into 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 kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar will calculate the tax.