Taxes have always been among the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant making it your own can be risky. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. Even though this is an extensive read it is possible to determine if TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? How To File From TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar, and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. In our review we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on managing them. But, it is up to you and your team to complete the process within the timeframe. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as the list of transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let you know how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export the information to the form of a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re 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 for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their guides, webinars, and blog for more info. Additionally 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. Some platforms offer superb features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan should be ideal for you. It might not include all the features of TaxJar, but it has all the basics 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 something different from the basics Professional could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for premium plans instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose how much the Premium plan will cost you. How To File From TaxJar
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around the subject. How To File From TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ How To File From TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.
