Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to engage an accountant doing it on yourself can be dangerous. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar How Do I Let My Accountant See My TaxJar Account?
The company was 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 the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. But, it is up for you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports and data.
The most appealing aspect of this feature is that they allow you to update automatically every day. Not only can they help to know the amount you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. It is also possible to export your data to the form of a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides and blog for more info. In addition, their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business manager, the plan could be perfect for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get different from the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the price of the Premium plan. will cost you. How Do I Let My Accountant See My TaxJar Account?
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business however, it will help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. How Do I Let My Accountant See My TaxJar Account?
But if handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ How Do I Let My Accountant See My TaxJar Account?
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar will calculate your tax.