Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Employee Reviews
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one place. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you should do but not 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 any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team will have access to everything you require, including the list of transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows users to view in detail the total sales tax in your business. It is also possible to export the data as CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also have 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 run a large business, you might need to opt for premium plans instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations, API integrationsfor team users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Employee Reviews
However, they did say that this plan is customized for each user. The cost of the plan will be different in line with what you require for your company.
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 right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to determine whether the software is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products It can also help you meet your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar Employee Reviews
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete, you might be better off doing it by yourself.
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FAQ TaxJar Employee Reviews
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate your tax.
