Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant making it your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. Even though this is lengthy, you should be able to gauge whether TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Add State In TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that 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 institutions.
How can this help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. So, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is to integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. In our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns The team will guide you on managing them. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar will only help you understand what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating sales tax through recording, and then 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 ease your accounting issues. Your orders from 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 all the information you need, such as an inventory of your transactions, reports, and information.
The greatest benefit of this option is the fact 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 keep track of when the next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. Additionally, you can export the information to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but everything related to sales tax. Check out their guides, webinars, or blog posts for additional information. Additionally their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale business proprietor, then this program should be perfect for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get a bit more than just the standard features Professional might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to opt for premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of users as well as AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. Add State In TaxJar
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it 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. This should give you enough time to gauge whether the software is the right choice for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this can definitely help you get your head around the subject. Add State In TaxJar
However, if managing your taxes is simple 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 keep track of all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ Add State In TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.
