Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, performing the task on your own can be dangerous. If you make a mistake, 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 is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Although this is quite a long read but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar Fudging The Numbers: How TaxJar New Hire Trial Broke Hr For Good
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Features and services
One of the first things you’ll want to check is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will do all 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 can integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For our review we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns, the team will instruct you on how to handle them. But, it is up to you and your team to complete everything on time. TaxJar is there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports and the data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export your data to a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar provides training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their guides, webinars, and blog for more information. Additionally the sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan should be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you run a large business, you might need to opt for premium plans instead. It includes all of the features needed to help with your taxes. In addition, they offer unlimited import integrations of data, API integrationsfor team members and AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. Fudging The Numbers: How TaxJar New Hire Trial Broke Hr For Good
However, they did say that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
Not only will it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. It is also a great option for accountants as they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around the subject. Fudging The Numbers: How TaxJar New Hire Trial Broke Hr For Good
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete then you’re better to do it on your own.
FAQ Fudging The Numbers: How TaxJar New Hire Trial Broke Hr For Good
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.