Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to employ an accountant, doing it on your own could be risky. If you overlook one thing, you might have to redo things again!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is lengthy, you should be able to gauge whether TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar Why Is My TaxJar Not Getting All Transactions From Stripe
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting system perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important metrics in one spot. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to handle them. It is up for you and your team to complete everything within the timeframe. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax in order to record and process them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax for your business. You can also export the data as CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for that is more than the basic features and options, then the Professional plan could be the one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to opt for the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports API integrationsfor team members and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. Why Is My TaxJar Not Getting All Transactions From Stripe
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid 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 companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
The use of TaxJar can help you reduce time and keep track of every deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will surely help you wrap your head around it. Why Is My TaxJar Not Getting All Transactions From Stripe
However, if managing taxes is easy If it isn’t, 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 everything. In addition, if you’re finding the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ Why Is My TaxJar Not Getting All Transactions From Stripe
What areas does TaxJar provide API support?
TaxJar currently works with countries like 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 type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar can calculate the tax.