Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to hire an accountant, doing it on your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read, you should be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar Link Stripe And TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. This means that there is no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to manage them. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you require, including the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. You can also export your data in CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. Check out their webinars, guides as well as their blog to find more information. In addition, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company owner, this plan should be ideal for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to choose premium plans instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team members, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Link Stripe And TaxJar
However, they did mention that this plan is customized for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
It’s a good thing that 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 considering other options, they have a 30-day free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then should try this.
Not only will it aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. Link Stripe And TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better off doing it on your own.
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FAQ Link Stripe And TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.
