Taxes have always been among the hardest things to do 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 work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant making it your own could be risky. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. But since it’s required, we have no choice.
So what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite a long read but you’ll be able to determine if TaxJar is exactly what you need today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? Amazon Fulfillment Center Utah TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting software seamlessly works well along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is integrate TaxJar, it will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income, the team will instruct you on managing the tax returns. It is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating taxes on sales in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to everything you need, like the list of transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to see the sales tax totals in your business. Additionally, you can export your data to a CSV file if you need it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program should be ideal for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price 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 accessing every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited import integrations of data, API integrationsfor team users as well as AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the amount that the Premium plan costs you. Amazon Fulfillment Center Utah TaxJar
But they did state that this plan is customized for each user. The cost of the plan will be different depending on what you need for your business.
Free Trial
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 considering various options, they provide a 30-day free trial. It should give you enough time to gauge whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers 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
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around it. Amazon Fulfillment Center Utah TaxJar
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow, you might be better to do it on your own.
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FAQ Amazon Fulfillment Center Utah TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.
