Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. If you don’t have the budget to hire an accountant, making it your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? Career TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to manage these. It is up to you and your team members to complete the process within the timeframe. TaxJar is there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined 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 an inventory of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes in your business. You can also export your data in the form of a CSV file if you need it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can look through their guides, webinars, and blog for more details. In addition, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes the tax on sales, four autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the basics Professional could be the one for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features needed to help with your taxes. Additionally, they permit unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. Career TaxJar
However, they did say that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your head around it. Career TaxJar
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
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FAQ Career TaxJar
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar will calculate your tax.
