Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you make a mistake, you might have to do it all over again!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? How To Register For Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. So, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to do it manually, 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 how to handle the tax returns. But, it is up for you and your staff to complete the process in time. TaxJar is only there to guide you on what you have to do but not handle it.
If you’d 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 taxes on sales through recording, and then processing it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce 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 require, including the list of transactions, reports, as well as information.
The best part about this option is the fact that it allows you to update automatically every day. Not only will they let you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. You can also export the data in CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar provides training 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. In addition, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
Apart from 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 sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team members as well as AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. How To Register For Sales Tax TaxJar
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- There is 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 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 have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of 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 revenue and products It can assist you in meeting your deadlines. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around the subject. How To Register For Sales Tax TaxJar
If handling taxes is easy, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, 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 Register For Sales Tax TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USdollars before TaxJar can calculate your tax.
