Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant making it your own could be risky. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is what you need right now.
Do you prefer video streaming instead? Check out 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, then let’s get right into it.
What exactly is TaxJar? Will Tax
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is there to help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax in order to record and process them. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you require, including a list of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. You can also export the information in CSV format. CSV file if you need it to aid in process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things connected to sales tax. You can look through their webinars, guides, or blog posts for additional details. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business owner, this plan should be perfect for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get a bit more than just the basic features Professional could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, API integrationsfor team users and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. Will Tax
But they did state that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to gauge whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you should try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around it. Will Tax
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ Will Tax
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.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar determines your tax.