Taxes are always one of the most difficult things to handle 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 tasks can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the budget to employ an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Careers
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. That way, there’s no need to collect data from different channels and organize it into one platform. All you need to do is to integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up to you and your team members to finish the tax returns on time. TaxJar will only guide you on what you should do , but not to 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 the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports and the data.
The best part about 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 keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export the information in CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides as well as their blog to find more details. Apart from that, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for premium plans instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Careers
But they did state that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- 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 be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will certainly help you to get your head around the subject. TaxJar Careers
But if handling taxes is easy, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do, you might be better off doing it by yourself.
FAQ TaxJar Careers
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar can calculate your tax.