Taxes have always been one of the hardest things to do, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to hire an accountant, doing it on your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. Although this is quite a long read but you’ll be able to determine if TaxJar is what you need today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar Does TaxJar Work With Quickbooks
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used 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 ensure that everything is simple and organized. 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 want to check is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. It is up for you and your team to complete the process on time. TaxJar will only help you understand what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to all the information you need, like the list of transactions, reports, as well as data.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. It is also possible to export the data as CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. You can check out their guides, webinars, and blog for more info. In addition their sales tax calculator should be useful if 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. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get different from the standard features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to choose an upgrade instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team members, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. Does TaxJar Work With Quickbooks
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your products and revenue however, it will also help you meet your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. Does TaxJar Work With Quickbooks
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ Does TaxJar Work With Quickbooks
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.
