Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to engage an accountant making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is lengthy, you should be able to determine if TaxJar is the tool you require today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar Fba Warehouse Locations TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only 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 widely used 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 most important things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. This means that there is no requirement to collect data from different channels and sort it into one platform. All you have to do is to integrate TaxJar, it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For this review, we’ll take a look into both.
If you choose 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 tax returns for income The team will guide you on how to manage the tax returns. But, it is up to you and your staff to finish the tax returns on time. TaxJar is there to guide you on what you should do , but not to handle it.
If you would 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 taxes on sales through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax for your business. Additionally, you can export the information in the form of a CSV file in case you require it in your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but all things related to sales tax. Check out their guides, webinars, as well as their blog to find more details. In addition, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking to get that is more than the basic features Professional might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do 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 opt for an upgrade instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrations, team members and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. Fba Warehouse Locations TaxJar
But they did state that the plan is custom-made 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 determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is a good fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- Does the plan include 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
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around the subject. Fba Warehouse Locations TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
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FAQ Fba Warehouse Locations TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines your tax.
