Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to engage an accountant doing it on your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
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 popular life-saving tool and explain how it can benefit you. Although this is quite lengthy it is possible to determine if 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 give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Zapier TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting platform is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your staff to complete everything within the timeframe. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your staff can access everything you need, like the list of transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let you keep track of how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. It is also possible to export the data to the form of a CSV file if you need it in your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand 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 tiers and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan if you need help in filing and reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be perfect for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get different from the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for an upgrade instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrationsfor team members and AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. Zapier TaxJar
But they did state that this plan is customized for every user. So the costs will vary according to what you require for your company.
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this can certainly help you to get your head around it. Zapier TaxJar
However, if managing taxes is easy, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ Zapier TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar will calculate the tax.