Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have enough money to employ an accountant, making it your own can be risky. If you miss one detail, you might have to do it all over again!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Careers From Home
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything simple and organized. 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 platform 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 get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one place. So, there’s no need to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. For our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to handle them. It is up to you and your team members to complete everything on time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not included in the plan you select.
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 put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as the list of transactions, reports, and data.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export your data in the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform but everything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything 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 the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan will be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get that is more than the basic features Professional could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone 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 have a massive business, you might need to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Careers From Home
However, they did say that this plan is customized for each user. The cost of the plan will be different depending on what you need for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to gauge if the platform is the right choice for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Careers From Home
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Careers From Home
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar determines the tax.
