Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, making it your own could be dangerous. If you overlook one thing, you might have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is a long read, you should be able to assess whether TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? How Long Does It Take To Import Into TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical data in one location. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar, it will do all 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 that they can connect with:
Filing
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on managing the tax returns. It is up for you and your staff to complete everything on time. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your team will have access to all the information you need, such as the list of transactions, reports, as well as information.
The best part about this feature is that it lets you to automatically update every day. They not only let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. You can also export the information to CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to scramble for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform but everything connected to sales tax. You can check out their webinars, guides, or blog posts for additional information. Apart from that, their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 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 smaller business proprietor, then this program will be ideal for you. It may not offer all of TaxJar’s features, but it has 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 for different from the standard features Professional could be the one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large company, you may need to choose premium plans instead. It includes all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. How Long Does It Take To Import Into TaxJar
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several 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 for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue It can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you reduce time and keep on top of each deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this will surely help you wrap your mind around it. How Long Does It Take To Import Into TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow, you might be better to do it by yourself.
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FAQ How Long Does It Take To Import Into TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports 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 link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar determines the tax.
