Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have enough money to engage an accountant performing the task on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. Although this is quite an extensive read, you should be able to determine if TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar How To File Matyland TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like 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 ensure that everything is organized and straightforward. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather data from different channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns, the team will instruct you on managing them. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means 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 in order to record and process it. There could 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 it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports, and data.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. You can also export the data to the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can check out their guides, webinars, and blog for more info. Apart from that, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features Professional may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the original 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 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 enterprise, you may want to opt for premium plans instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. How To File Matyland TaxJar
But they did state that this plan is tailor-fit for each user. So the costs will vary according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to determine if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track 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 for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your revenue and products, but it can help you meet your deadlines. It is also a great opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your head around the subject. How To File Matyland TaxJar
If handling taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
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FAQ How To File Matyland TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar will calculate the tax.
