Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own 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 filled with tasks to complete. In the event that you do not have enough money to hire an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
So what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? Does TaxJar Integrate With Netsuite
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more 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 need to ensure is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax manually or through 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 those sales tools. When the time is right for filing tax returns for income, the team will instruct you on managing the tax returns. It is up to you and your staff to finish the tax returns within the timeframe. 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, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the data in the form of a CSV file if you need it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more info. Apart from that, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business manager, the plan could be ideal for you. It may not have all of TaxJar’s features however, it does include all the basics 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 a bit more than just the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. Does TaxJar Integrate With Netsuite
However, they did say that this plan is customized for each user. So the costs will vary in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just 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. It should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not 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 is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it help you track your products and revenue however, it will also help you meet the deadlines you set. It is also a great platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around it. Does TaxJar Integrate With Netsuite
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do then you’re better to do it by yourself.
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FAQ Does TaxJar Integrate With Netsuite
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar determines your tax.
