Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it your own could be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Sales Salary
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. This means that there is no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on 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 submit all forms by hand. With this feature, everything will be automated, from calculating sales tax to recording and processing them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled 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 an inventory of your transactions, reports, and data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let 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 the data as CSV format. CSV file if you need it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature can aid them in being 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 for other operational expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. In addition, their sales tax calculator can be 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. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrations, team members, and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Sales Salary
However, they did say that this plan is customized for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to know about 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.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides 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.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to 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 numerous platforms. If that sounds like what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. TaxJar Sales Salary
If handling your taxes is simple, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do, you might be better off doing it on your own.
FAQ TaxJar Sales Salary
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link 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 does not convert currencies. The transactions are in US$. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar can calculate the tax.