Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can simplify our lives by using tools like 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 but you’ll be able to determine if TaxJar is exactly what you need today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Tax Filing Specialist Salary
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in 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 widely used by online business owners to ensure that everything is neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to handle the tax returns. However, it will be up for you and your team members to complete the process on time. 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 submit all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you require, including an inventory of your transactions, reports and data.
The best part about this feature is that they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export the data to CSV format. CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but for anything related to sales tax. Check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan to help you in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basic features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose how much the Premium plan costs you. TaxJar Tax Filing Specialist Salary
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need 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 for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize Here are the pros and cons of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar Tax Filing Specialist Salary
However, if managing taxes is easy, 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. Moreover, if you find the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar Tax Filing Specialist Salary
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines your tax.