Taxes have always been one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to engage an accountant doing it on yourself can be dangerous. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Take a look at 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 Zencart TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting system is compatible with your sales channel. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage them. It is up to you and your staff to finish the tax returns on time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax to recording and processing it. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of this feature is that it lets you to automatically update every day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to fully view the sales tax totals for your business. Additionally, you can export the information to the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides and blog for more details. In addition their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan could be ideal for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basics Professional may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Zencart TaxJar
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Has 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 simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that’s what you do, then you should try this.
It’s not just a way to aid in tracking the sales and profits of your business It can also help you meet your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around it. Zencart TaxJar
If handling your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do, you might be better in doing it all on your own.
FAQ Zencart TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into 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 another currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.