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 finance or accounting. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on your own can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Even though this is a long read it is possible to gauge whether TaxJar is what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? High Performance Vs Standard Ski Rental
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to display your key data in one location. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. It is up for you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales tax to recording and processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like the list of transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. Additionally, you can export your data in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but for anything related to sales tax. You can check out their guides, webinars, as well as their blog to find more details. Additionally the sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team users and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. High Performance Vs Standard Ski Rental
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue It can also help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will certainly help you to get your mind around it. High Performance Vs Standard Ski Rental
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow, you might be better to do it on your own.
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FAQ High Performance Vs Standard Ski Rental
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 connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USUSD before TaxJar will calculate the tax.
