Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is a long read but you’ll be able to gauge whether TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? How To Transfer Sales Data To Filefrom TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. So, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to file their sales taxes either manually or via their AutoFile feature. In the purpose of this article, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage these. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which 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 in order to record and process them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team can access everything you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of 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 and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. You can also export the information as the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but for anything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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 structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program should be perfect for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose the Premium plan instead. It includes all of the features needed to help with your taxes. Additionally, they permit unlimited data import integrations as well as API integrationsfor team users, and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. How To Transfer Sales Data To Filefrom TaxJar
But they did state that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your mind around it. How To Transfer Sales Data To Filefrom TaxJar
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole process easy to do, you might be better to do it on your own.
FAQ How To Transfer Sales Data To Filefrom TaxJar
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar determines the tax.