Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite a long read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? How Many Account Can I Add With TaxJar?
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with sales taxes. 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 used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax software is compatible along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar, then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to handle the tax returns. It is up for you and your team members to complete everything in time. TaxJar is only there to guide you on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that 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 sales tax in order to record and process them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help 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 all the information you need, like a list of your transactions, reports, and information.
The greatest benefit of this feature is that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the overall sales taxes in your business. You can also export your data to a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps 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 when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things related to sales tax. You can check out their guides, webinars, as well as their blog to find more details. In addition, their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set 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 levels and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company owner, this plan should be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for a bit more than just the basics Professional may be the best option for you. It starts at $99, but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrationsfor team members and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. How Many Account Can I Add With TaxJar?
But they did state that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides 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 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
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
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 sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to help you track your revenue and products, but it can help you meet your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can definitely help you get your mind around it. How Many Account Can I Add With TaxJar?
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ How Many Account Can I Add With TaxJar?
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar determines the tax.
