Taxes are always one of the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, 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, doing it on your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is what you need today.
Prefer video streaming instead? Check out 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 get right into it.
What exactly is TaxJar? What About Working At TaxJar Interests You Most?
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is that your accounting tax software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no need to gather data from different channels and sort it into one platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing these. But, it is up to you and your team to complete the process in time. TaxJar is there to provide guidance on what you need to 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 submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports, as well as the data.
The best part about this feature is that they allow you to update automatically every day. Not only will they let you keep track of how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. Additionally, you can export your data in the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform but all things connected to sales tax. You can check out their webinars, guides and blog for more information. In addition, their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business manager, the plan should be perfect for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for that is more than the standard features, 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.
How different is it from the basic plan?
In addition to 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 advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for premium plans instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge the price of the Premium plan. costs you. What About Working At TaxJar Interests You Most?
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your mind around it. What About Working At TaxJar Interests You Most?
But if handling taxes is easy, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire process easy to do then you’re better in doing it all by yourself.
FAQ What About Working At TaxJar Interests You Most?
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.