Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have enough money to employ an accountant, doing it on your own could be risky. If you miss one detail it could mean you 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 is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. While this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar Integrate TaxJar With Fourth Shift
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. This means that there is no need to gather data from different channels and sort it into one platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing it. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as a list of your transactions, reports, and the data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals for your business. You can also export your data to the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. Additionally, their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for a bit more than just the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. Integrate TaxJar With Fourth Shift
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to see whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of 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
- 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track the sales and profits of your business, but it can help you meet your deadlines. It is also a great opportunity for accountants since they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this can certainly help you to get your head around it. Integrate TaxJar With Fourth Shift
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ Integrate TaxJar With Fourth Shift
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate the tax.
