Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have enough money to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? Can You Delete Transaction In TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software is compatible with your sales channel. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is connect TaxJar and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For this review, we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. But, it is up to you and your staff to complete everything in time. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using 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, and the data.
The most appealing aspect of this feature is that it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. Additionally, you can export the data as a CSV file if you need it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount 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 operating expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides, and blog for more information. Apart from that the sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller company manager, the plan will be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something that is more than the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrationsfor team users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. Can You Delete Transaction In TaxJar
However, they did say that the plan is custom-made for every user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t 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 laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to aid in tracking your products and revenue It can help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your mind around it. Can You Delete Transaction In TaxJar
However, if managing 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 everything. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ Can You Delete Transaction In TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.
