Taxes have always been one of the hardest things to do, whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the budget to employ an accountant, making it your own could be risky. If you miss one detail, you might have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
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 life-saving tool and explain how it can help you. While this is a long read it is possible to determine if TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Take a look at 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 is TaxJar? TaxJar Hiring Process
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting system is compatible with your sales channel. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your key data in one location. This means that there is no requirement to collect data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In our review we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to manage them. It is up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, like an inventory of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. Additionally, you can export your data in the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more details. Apart from that their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for that is more than the standard features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to opt for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrationsfor team members, and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Hiring Process
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this can definitely help you get your head around the subject. TaxJar Hiring Process
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you only have 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 and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Hiring Process
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. 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 your tax.