Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to engage an accountant performing the task on your own can be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. While this is a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Account Executive
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your critical data in one location. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is connect TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. In this 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 filing income tax returns TaxJar will train you on managing the tax returns. But, it is up to you and your team to complete everything within the timeframe. TaxJar will only guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes in order to record and process them. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. You can also export the information in the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
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 in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more info. In addition, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance in filing and 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 will be able to access their AI tax tips.
If you’re a smaller company owner, this plan could be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the standard features Professional may be the best option for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you run a large company, you may need to go for an upgrade instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Account Executive
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Fortunately, you don’t need to gamble your money just 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. This should be enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online 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
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent option for accountants as they have tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Account Executive
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ TaxJar Account Executive
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar will calculate your tax.
