Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to employ an accountant, performing the task on your own could be risky. If you overlook one thing, you might have to redo things again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. While this is an extensive read, you should be able to gauge whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Sales Tax Accountant Directory
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. 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 most important data in one location. This means that there is no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. In the purpose of this article, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to manage the tax returns. It is up to you and your team to complete everything in time. TaxJar is only there to guide you on what you should do , but not to handle it.
If you 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 tax in order to record and process them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as an inventory of your transactions, reports and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals in your business. It is also possible to export your data as a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company owner, this plan could be ideal for you. It may not offer all of TaxJar’s features however, it does include 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 capabilities.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to choose an upgrade instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations API integrations, team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Sales Tax Accountant Directory
However, they did say that this plan is customized to each user. Therefore, the cost will differ in line with what you require for your company.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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 laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your revenue and products It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around the subject. TaxJar Sales Tax Accountant Directory
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Sales Tax Accountant Directory
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar determines your tax.