Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to employ an accountant, performing the task on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
What can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist 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.
Are you looking to watch videos instead? Check out 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 Reviews Employment
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well with your sales channel. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your key metrics in one place. That way, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to handle them. But, it is up for you and your team members to complete everything within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow you to see the total sales tax within your company. It is also possible to export the information in a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to search for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more details. Additionally the sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan should be ideal for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrations, team users and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Reviews Employment
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is 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 check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue however, it will help you meet your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Reviews Employment
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar Reviews Employment
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify 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 with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate your tax.
