How To File Taxes With TaxJar

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Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the budget to employ an accountant, doing it on your own could be dangerous. If you miss one detail it could mean you have to do it all over again!

Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.

What is the best way to deal with it?

We can always make life easier with tools such as TaxJar.

This article will take a look at this popular life-saving device and how it can help you. Even though this is lengthy but you’ll be able to determine if TaxJar is what you need right now.

Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.

If you prefer to read, then we’ll dive right into.

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What is TaxJar? How To File Taxes With TaxJar

Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.

TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.

How can this help you?

TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s look into their features and services.

How To File Taxes With TaxJar

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Services and features

Integration

One of the most important things you’ll need to make sure you have a tax accounting system perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.

TaxJar lets you display your most important metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar it will do all the rest.

Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For this review, we’ll look at both.

If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage these. It is up to you and your team members to complete the process on time. TaxJar will only help you understand what you need to do but not handle it.

If you 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 taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.

Sales Tax Reports

As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. 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 can access everything you need, such as the list of transactions, reports and the data.

The greatest benefit of this feature is that it lets you to automatically update every day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.

Their dashboard also allows you to see the overall sales taxes in your business. Additionally, you can export the data to the form of a CSV file if you need it for your process of financial planning and accounting or if your team needs it for centralized reporting.

Training and Streamlining

TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this function can help them be more efficient.

Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.

The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides, and blog for more information. Apart from that, their sales tax calculator can be useful if you’re planning to complete everything yourself.

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How much does TaxJar cost?

We are aware of how important it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.

Starter

Their Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.

If you’re a smaller business proprietor, then this program could be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.

You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.

Professional

If you’re looking for something that is more than the basic features, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.

How different is it from the basic plan?

In addition to having access to each of Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.

Premium

If you have a massive business, you might need to go for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data API integrationsfor team users, and AutoFiles.

They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. How To File Taxes With TaxJar

However, they did say that this plan is customized to each user. The cost of the plan will be different in line with what you require to run your business.

Free Trial

Luckily, you don’t have to bet your life on it 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. This should be enough time to see whether the software is a good fit for you.

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Pros and Pros and

Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your business.

Pros

  • Has a Tax Advisor option for some plans
  • AutoFile features save time
  • Available in most USA states
  • Offers Taxes on sales online 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.
  • Allows you to track multiple sales channels

Cons

  • AutoFile limit is based on the plan
  • AutoFile has extra fees
  • Some countries won’t have access to the API feature.
  • Only applicable for USA customers.
  • It is important for owners and accountants to review local laws

The Final Verdict

With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then should try this.

Not only will it assist you in keeping track of your products and revenue It can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.

Utilizing TaxJar can help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around it. How To File Taxes With TaxJar

However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete, you might be better in doing it all on your own.

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FAQ How To File Taxes With TaxJar

What areas does TaxJar offer API support?

TaxJar currently supports countries like the United States, the EU, Australia, and Canada.

Can I incorporate Shopify together with TaxJar?

Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.

Can I convert any kind of currency with TaxJar?

Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate your tax.

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