Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, performing the task on your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Although this is quite a long read it is possible to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Zoominfo
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax 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 take days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns, the team will instruct you on managing them. It is up to you and your team to complete everything within the timeframe. TaxJar will only guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to everything you need, like the list of transactions, reports, as well as information.
The greatest benefit of this feature is that it lets you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to see the overall sales taxes in your business. You can also export your data in CSV format. CSV file, if you want to use 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 the track of all your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform but all things that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan could be ideal for you. It may not have all the features of TaxJar however, it does include 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 basic features Professional could be the one for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Zoominfo
However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your company.
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you ought to try this.
Not only can it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Zoominfo
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Zoominfo
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. 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 can calculate your tax.