Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, making it yourself can be risky. If you overlook one thing it could mean you have to redo things again!
Most people want to avoid this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is lengthy but you’ll 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 give a complete analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar Elisa Campos TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore 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 make sure you have a tax accounting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key data in one location. That way, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to manage them. But, it is up for you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales tax through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to everything you require, including an inventory of your transactions, reports, and data.
The best part about this option is the fact that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export the data in the form of a CSV file, if you want to use it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar provides training and tutorials not only for their platform but everything related to sales tax. You can look through their guides, webinars, or blog posts for additional info. In addition the 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 provide amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program should be ideal for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
Apart from 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. You can also have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan will cost you. Elisa Campos TaxJar
However, they did say that this plan is customized to each user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor 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 valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. Elisa Campos TaxJar
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. 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 Elisa Campos TaxJar
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate the tax.
