Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Although this is quite lengthy it is possible to determine if TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar Can I Have Two Accounts To Work With TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting platform is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. That way, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on managing these. But, it is up to you and your team members to finish the tax returns within the timeframe. 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, which means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. They not only let you know how much you’ve collected, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export your data in CSV format. CSV file if you need it for your process of financial planning and accounting or if your team needs 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 hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount 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.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional details. Additionally their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan if you need help with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan could be ideal for you. It may not have all of TaxJar’s features however, it does include the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basic features Professional could be the one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large company, you may need to opt for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. Can I Have Two Accounts To Work With TaxJar
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access 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 can be a great platform companies with multiple sales channels and uses many platforms. If that’s what you’re doing, then should try this.
Not only will it assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. It is also a great opportunity for accountants since they have the Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. Can I Have Two Accounts To Work With TaxJar
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete, you might be better off doing it on your own.
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FAQ Can I Have Two Accounts To Work With TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar determines the tax.
