Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues 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 hire an accountant, performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is lengthy but you’ll be able to determine if TaxJar is exactly what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? How Can You Tell The Number Of Transactions On TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar it will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income The team will guide you on managing these. It is up for you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that 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 to recording and processing them. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, such as the list of transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals for your business. It is also possible to export the data to the form of a CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides and blog for more info. In addition their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business owner, this plan could be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for a bit more than just the basic features and options, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
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 the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrations, team users and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. How Can You Tell The Number Of Transactions On TaxJar
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce 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 can 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 clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this can definitely help you get your mind around it. How Can You Tell The Number Of Transactions On TaxJar
However, if managing your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ How Can You Tell The Number Of Transactions On TaxJar
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.
