Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. 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 budget to employ an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do about it?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Freelance
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is 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 that you are in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one spot. So, 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 the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage the tax returns. But, it is up for you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. They not only let you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. Additionally, you can export the information in a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. You can check out their webinars, guides and blog for more info. Additionally their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something that is more than the basic features Professional might be the right one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to choose an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Freelance
However, they did mention that the plan is custom-made for each user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to determine whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce 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
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around it. TaxJar Freelance
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the whole process easy to do then you’re better to do it on your own.
FAQ TaxJar Freelance
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar will calculate the tax.