Do You Need A Bookkeeper If You Use TaxJar

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Taxes have always been one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have the budget to hire an accountant, performing the task on your own could be risky. If you overlook one thing, you might have to redo things again!

Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.

So , what can we do ?

It is always possible to simplify our lives with tools such as TaxJar.

Here we’ll take a look at this popular life-saving device and how it can assist you. Although this is quite lengthy but you’ll be able to determine if TaxJar is exactly what you need today.

Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.

For those who like to read, let’s get right into it.

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What is TaxJar Do You Need A Bookkeeper If You Use TaxJar

Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within minutes.

TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.

What can it do to help you?

TaxJar is used extensively 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.

Do You Need A Bookkeeper If You Use TaxJar

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Features and services

Integration

One of the first things you’ll need to ensure you have a tax accounting platform is compatible with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.

TaxJar allows you to display your key data in one location. That way, there’s no need to gather data from different channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will handle the rest.

Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look into both.

If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on managing the tax returns. It is up for you and your team to complete everything within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.

If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales tax through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.

Sales Tax Reports

As I mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you require, including the list of transactions, reports, as well as information.

The most appealing aspect of this feature is that it allows you to update your account automatically each day. They not only let to know the amount you’ve collected, but they also help you track when your following payments are due.

Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export your data as a CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.

Training and Streamlining

TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.

Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operational expenses.

But what’s even better is that TaxJar offers tutorials and training not only on their platform, but everything that has to do with sales tax. Check out their webinars, guides and blog for more info. Apart from that, their sales tax calculator can 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 determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.

Starter

Their Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax advice.

If you’re a small company owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.

You can also contact the support team 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, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it by adding custom features.

So how different is it from the original plan?

In addition to accessing all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.

Premium

If you have a massive business, you might need to choose an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users and AutoFiles.

There is also a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Do You Need A Bookkeeper If You Use TaxJar

However, they did mention that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your company.

Free Trial

It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.

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Pros and Cons

After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.

Pros

  • There is the Tax Advisor option for some plans
  • AutoFile features to reduce time
  • Available in most USA states
  • Offers Taxes on sales online calculator.
  • Support service team
  • The dashboard is easy 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

Cons

  • Limits for AutoFile are based on the plan
  • AutoFile has extra fees
  • Certain countries will not be able to access 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 provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that sounds like what you do, then you must try TaxJar.

Not only will it help you track your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.

Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Do You Need A Bookkeeper If You Use TaxJar

However, if managing taxes is easy, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better in doing it all on your own.

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FAQ Do You Need A Bookkeeper If You Use TaxJar

What areas does TaxJar provide API assistance?

TaxJar currently works with countries like the United States, the EU, Australia, and Canada.

Can I incorporate Shopify with TaxJar?

Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.

Are there any ways to exchange one type of currency with TaxJar?

Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you will need to convert it to US$ before TaxJar will calculate the tax.

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