Taxes are always one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Interview Process
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is integrate TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. For our review we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns, the team will instruct you on managing them. But, it is up for you and your staff to complete everything on time. TaxJar will only provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as a list of your transactions, reports, as well as information.
The greatest benefit of this feature is that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes in your business. Additionally, you can export the data as the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but everything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more details. Apart from that their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help in filing and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the standard features, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Interview Process
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 to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your revenue and products It can help you meet the deadlines you set. It is also a great option for accountants as they offer 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 and obligation you have to meet. If you live in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar Interview Process
However, if managing taxes is easy, 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 keep track of everything. Moreover, if you’re finding the entire procedure simple to follow, you might be better to do it on your own.
FAQ TaxJar Interview Process
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate your tax.