Taxes have always been one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, making it yourself can 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. But , as it’s a requirement and mandatory, there’s no other choice.
So , 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 popular life-saving device and how it can benefit you. While this is a long read, you should be able to determine if TaxJar is what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Number Of Employees
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no need to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to manage these. However, it will be up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team can access everything you require, including a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. It is also possible to export the information to a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can look through their guides, webinars, and blog for more details. Apart from that their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company proprietor, then this program should be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something that is more than the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to opt for an upgrade instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan will cost you. TaxJar Number Of Employees
But they did state that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize Here are the pros and cons of using TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has 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 be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then should try this.
Not only will it help you track your revenue and products It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Number Of Employees
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
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FAQ TaxJar Number Of Employees
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.
