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 degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant making it yourself can be risky. If you miss one detail 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 can we do ?
We can always make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is an extensive read it is possible to determine if TaxJar is what you need in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar Etsy Like TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is connect TaxJar, it will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. For our review we’ll take a look into 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 filing tax returns for income The team will guide you on how to manage these. However, it will be up for you and your team to complete the process in time. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax in your business. You can also export the information as a CSV file if you need it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform but all things connected to sales tax. You can check out their webinars, guides and blog for more info. In addition their sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business owner, this plan could be ideal for you. It may not offer all the features of TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge business, you might need to choose an upgrade instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations, API integrationsfor team members and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. Etsy Like TaxJar
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize Here are the pros and cons of making use of TaxJar for your company.
Pros
- There is the 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
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. It is also a great opportunity for accountants since they offer tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around the subject. Etsy Like TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better to do it by yourself.
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FAQ Etsy Like TaxJar
What are the areas in which 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 incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines the tax.
