Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to employ an accountant, performing the task on yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can assist you. Even though this is a long read it is possible to assess whether TaxJar is the tool you require today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar Freelaner
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized 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 widely used by online business owners to ensure that everything is neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to handle them. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to see the total sales tax in your business. Additionally, you can export the data as CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides and blog for more info. Apart from that the sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller business proprietor, then this program could be ideal for you. It might not include all the features offered by TaxJar, but it has the basic features you require.
You can also 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 something different from the standard features Professional may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each 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 import integrations of data as well as API integrationsfor team users as well as AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Freelaner
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking your products and revenue however, it will help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can surely help you wrap your head around it. TaxJar Freelaner
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good 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 easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Freelaner
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, 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 to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar determines your tax.
