Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need right now.
Prefer to watch videos instead? 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, we’ll dive right into.
What is TaxJar Glassdoor TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform perfectly integrates with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you have to do is to integrate TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through their AutoFile feature. In our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your staff to complete everything in time. 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 the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes in your business. You can also export your data in the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides and blog for more information. Additionally the sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan will be ideal for you. It may not have all of TaxJar’s features but it comes with 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 capabilities.
If you’re looking for something a bit more than just the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
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 API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan is going to cost. Glassdoor TaxJar
However, they did say that this plan is customized for every user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business however, it will also help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around the subject. Glassdoor TaxJar
If handling your taxes is simple, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ Glassdoor TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar will calculate your tax.