Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the funds to engage an accountant performing the task on your own could be risky. If you overlook one thing, you might have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is a long read it is possible to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar? Z Tax And Multi Services
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 compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar it will do 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 allows clients to submit their sales tax manually or through their AutoFile feature. For this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to complete everything within the timeframe. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you require, including the list of transactions, reports and 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 collected however, they can also help you track when your following payment is due.
Their dashboard also allows 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 want to use it to aid in accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition the sales tax calculator is beneficial when 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’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller business proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something different from the basics, 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?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. costs you. Z Tax And Multi Services
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor 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 to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that sounds like what you do, then you should try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your head around the subject. Z Tax And Multi Services
If handling your taxes is simple, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Z Tax And Multi Services
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.