Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, performing the task on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Although this is quite a long read, you should be able to assess whether TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? Delete TaxJar Import
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure 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 face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is to integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle them. But, it is up for you and your team members to finish the tax returns on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, such as the list of 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 you keep track of how much you’ve earned, but they also help you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax in your business. Additionally, you can export the information as CSV format. CSV file in case you require it in your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator should 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 provide amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you to help you in filing and reporting. It includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer 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. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something different from the standard features Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to opt for an upgrade instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data, API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Delete TaxJar Import
But they did state that the plan is custom-made 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 risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to see whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- 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 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 that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. Delete TaxJar Import
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ Delete TaxJar Import
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate your tax.
