Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, performing the task on your own could be risky. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Although this is quite a long read, you should be able to gauge whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar Working For TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle them. It is up to you and your team members to finish the tax returns in time. TaxJar is only there to help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales to recording and processing it. There could be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. They not only let you know how much you’ve earned, but they also help you track when your following payments are due.
The dashboard allows you to fully view the overall sales taxes for your business. Additionally, you can export your data as a CSV file if you need it for your accounting and financial planning processes 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. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more details. Additionally the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to choose premium plans instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal the amount that the Premium plan is going to cost. Working For TaxJar
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will definitely help you get your mind around it. Working For TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
FAQ Working For TaxJar
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar determines the tax.