How To Use TaxJar

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Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to employ an accountant, doing it on yourself can be dangerous. If you miss one detail, 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 can we do ?

We can always make our lives easier by using tools like TaxJar.

This article will take a look at this well-known life-saving device and how it can benefit you. Although this is quite lengthy, you should be able to determine if TaxJar is exactly what you need in the present.

Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.

For those who like to read, then let’s get right into it.

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What is TaxJar How To Use TaxJar

Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.

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

How can this help you?

TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.

How To Use TaxJar

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Features and services

Integration

One of the most important things you’ll need to make sure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.

TaxJar lets you display your critical metrics in one place. This means that there is no need to gather data from different channels and organize it into one platform. All you need to do is to integrate TaxJar, then the system 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:

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

Filing

TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look into both.

If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to complete everything on time. TaxJar is there to help you understand what you need 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 any forms manually. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing 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 we mentioned it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as the list of transactions, reports, as well as information.

The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. They not only let to know the amount you’ve accumulated, but they also help you determine when your next payments are due.

The dashboard allows users to view in detail the total sales tax in your business. It is also possible to export the information in the form of a CSV file, if you want to use it for your financial planning and accounting processes or if you require it for central reporting.

Training and Streamlining

TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can aid them in being more efficient.

Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operating costs.

What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, and blog for more details. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.

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How much does TaxJar cost?

We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.

Starter

The Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.

If you’re a smaller business proprietor, then this program will be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.

In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.

Professional

If you’re looking for something a bit more than just the basics Professional may be the best option for you. The price starts 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 have the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.

Premium

If you run a large enterprise, you may want to go for the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.

They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. How To Use TaxJar

However, they did say that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your business.

Free Trial

Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see whether the software is an excellent fit for you.

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Pros and Pros and

After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.

Pros

  • Has a Tax Advisor option for some plans
  • AutoFile features help to reduce time
  • Available in most USA states
  • Offers on the internet for sales tax calculator.
  • Support service team
  • The dashboard is easy to navigate
  • The company offers a 30-day trial for free.
  • It is possible to integrate it with other platforms
  • You can track several 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 valid for USA customers.
  • Needs accountants and owners to review local laws

The Final Verdict

With everything laid out TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then should try this.

Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great platform for an accountant since they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.

The use of TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this can definitely help you get your head around the subject. How To Use TaxJar

If handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.

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FAQ How To Use TaxJar

Which areas does TaxJar offer API assistance?

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 sync your Shopify account with TaxJar for easier monitoring and updates.

Can I convert any kind of currency with TaxJar?

Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate your tax.

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