Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it yourself can be risky. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Salaries
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting platform is compatible along with sales funnels. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you need to do is connect TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to manage the tax returns. But, it is up to you and your team members to complete the process on time. TaxJar will only help you understand what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. There could be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, like the list of transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. They not only let you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export your data as a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but everything connected to sales tax. Check out their guides, webinars, or blog posts for additional details. Apart from that their 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. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small company manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get different from the basics Professional may be the best option for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Salaries
However, they did mention that the plan is custom-made to each user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is the right choice for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online 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 for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then you ought to 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 provide the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar Salaries
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow, you might be better to do it on your own.
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FAQ TaxJar Salaries
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar determines your tax.
