Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is a long read, you should be able to gauge whether TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar TaxJar Salary
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it in all of your channels of sales 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 minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting system is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports and the data.
The best part about the feature you’ve chosen is it lets you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export the information in a CSV file in case you require it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also all things related to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be ideal for you. It may not have all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get a bit more than just the basics Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose the Premium plan instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as API integrationsfor team users as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar Salary
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save 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 is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for 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 with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Salary
If handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ TaxJar Salary
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines the tax.