Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on your own can be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So 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 well-known life-saving tool and how it can assist you. Although this is quite a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? Maine Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar it will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing them. However, it will be up to you and your staff to complete everything in time. TaxJar is there to guide you on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. Additionally, you can export your data in the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much 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 for anything connected to sales tax. You can check out their webinars, guides, and blog for more information. In addition their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Maine Sales Tax TaxJar
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 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 know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you do, then you ought to try this.
Not only will it help you track the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent option for accountants as they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. Maine Sales Tax TaxJar
If handling your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do then you’re better in doing it all by yourself.
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FAQ Maine Sales Tax TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar determines your tax.
