Taxes have always been among the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, making it your own can be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. Although this is quite a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar Who Owns TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system is compatible with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For this review, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to manage them. It is up to you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means 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 extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned, you can 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. From there, you and your team will have access to everything you need, like the list of transactions, reports and information.
The best part about this feature is that it allows you to automatically update every day. They not only let you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the information in a CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things connected to sales tax. You can look through their webinars, guides and blog for more information. Additionally the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be ideal for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for a bit more than just the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to choose premium plans instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Who Owns TaxJar
However, they did mention that this plan is customized to each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that 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 a 30-day free trial. This should be enough time to see whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your revenue and products It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. Who Owns TaxJar
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ Who Owns TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar can calculate your tax.