Taxes have always been among the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to hire an accountant, making it yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
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.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Job Reddit
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of 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 it help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. So, there’s no need to gather data from different channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you choose to manually file your tax returns, 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 managing the tax returns. However, it will be up for you and your team members to complete everything in time. TaxJar will only provide guidance on what you have 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 submit any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. From there, you and your team will have access to everything you need, such as the list of transactions, reports, and the data.
The greatest benefit of this feature is that they allow 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.
The dashboard allows you to fully view the total sales tax within your company. You can also export your data in the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials not only on their platform, but for anything that has to do with sales tax. Check out their webinars, guides and blog for more details. Additionally the sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company owner, this plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for that is more than the basics, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to opt for premium plans instead. It has all of the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Job Reddit
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for 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.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
Not only will it help you track your products and revenue however, it will also help you meet your deadlines. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Job Reddit
However, if managing your taxes is simple, then TaxJar might not be a good 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’re finding the entire process easy to do then you’re better in doing it all by yourself.
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FAQ TaxJar Job Reddit
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar can calculate your tax.
