Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, making it your own can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Although this is quite lengthy, you should be able to gauge whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? X Tax Login
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you have to do is to integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on how to manage them. It is up to you and your staff to complete everything on time. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. There could be extra fees if 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 woes. All orders made through your e-commerce channels can be compiled 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 and information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. Additionally, you can export the information to CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you to help you in filing and reporting. It also includes the tax on sales, four autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business owner, this plan could be ideal for you. It might not include all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. X Tax Login
However, they did mention that this plan is tailor-fit to each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can 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.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around the subject. X Tax Login
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do, you might be better in doing it all by yourself.
FAQ X Tax Login
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, 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 with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.