Taxes have always been one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant making it yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Even though this is a long read, you should be able to gauge whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? District Rate California TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar lets you display your key data in one location. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that it allows you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the information as a CSV file if you need it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but for anything connected to sales tax. Check out their guides, webinars, and blog for more details. In addition the sales tax calculator can be 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 establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small company proprietor, then this program could be ideal for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something that is more than the basic features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrationsfor team users and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. District Rate California TaxJar
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Luckily, 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 other options, they have 30 days of free trial. This should give you enough time to see whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of using TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help save 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 is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to help you track the sales and profits of your business however, it will help you meet your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around it. District Rate California TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it by yourself.
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FAQ District Rate California 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 connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar determines your tax.
