Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, doing it on your own could be risky. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite a long read, you should be able to gauge whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? Multi-Account Login TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing the tax returns. However, it will be up for you and your team to complete everything on time. TaxJar will only provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating taxes on sales 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 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 via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let to know the amount you’ve collected however, they can also help you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax for your business. It is also possible to export the information in the form of a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can look through their webinars, guides, as well as their blog to find more info. In addition the sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small company owner, this plan should be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for different from the basic features Professional might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
Apart from 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 advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for the Premium plan instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Multi-Account Login TaxJar
But they did state that this plan is tailor-fit to each 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 see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple 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 valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then ought to try this.
Not only will it help you track your products and revenue however, it will assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you get more done while keeping on top of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this can certainly help you to get your head around the subject. Multi-Account Login TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do, you might be better to do it on your own.
FAQ Multi-Account Login TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar determines the tax.