Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
What can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Although this is quite a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar Ebay TaxJar Site
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you have to do is connect TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to manage the tax returns. But, it is up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with 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 staff can access everything you need, like a list of your transactions, reports, and the data.
The best part about this feature is that they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the data to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team requires 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 hunt for your paperwork when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. Check out their guides, webinars, and blog for more details. Additionally their sales tax calculator should be helpful if you’re planning on 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. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be perfect for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the basics and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrations, team users as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. Ebay TaxJar Site
However, they did say that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the software is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of the use of TaxJar for your business.
Pros
- Does the plan include a 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
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your mind around it. Ebay TaxJar Site
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it by yourself.
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FAQ Ebay TaxJar Site
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with 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. The transactions are in US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar determines your tax.
