Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own 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 you’re full of things to be done. In the event that you do not have the budget to engage an accountant making it yourself can be dangerous. If you overlook one thing, you might need to repeat the process!
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 our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? Working At TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used 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 ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software is compatible along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing these. However, it will be up for you and your team to complete the process on time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax within your company. Additionally, you can export the data in CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides and blog for more details. Additionally the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and 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 should be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features Professional could be the one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to go for the Premium plan instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. Working At TaxJar
But they did state that this plan is tailor-fit for every 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 bet your life on it to see if this platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are 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 review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to aid in tracking your revenue and products however, it will help you meet the deadlines you set. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around it. Working At TaxJar
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete then you’re better in doing it all by yourself.
FAQ Working At TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar will calculate your tax.