Taxes have always been one of the hardest things to do, 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, especially when you’re packed with things to do. If you don’t have the funds to hire an accountant, doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer video streaming instead? Watch 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 we’ll dive right into.
What is TaxJar Why Doesn’T TaxJar Integrate With Quickbooks
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including 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 organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check is that your accounting tax software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. That way, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on managing them. However, it will be up to you and your team to complete everything in time. TaxJar is there to guide you on what you have to 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 fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help 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 staff will have access to all the information you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this feature is that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to see the sales tax totals within your company. Additionally, you can export the data to a CSV file in case you require it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional information. Apart from that the sales tax calculator can 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 determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Why Doesn’T TaxJar Integrate With Quickbooks
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
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’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this can definitely help you get your head around it. Why Doesn’T TaxJar Integrate With Quickbooks
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ Why Doesn’T TaxJar Integrate With Quickbooks
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar will calculate your tax.