Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to employ an accountant, making it your own can be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is a long read it is possible to determine if TaxJar is what you need today.
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, then we’ll dive right into.
What is TaxJar Matt Anderson TaxJar Email
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. In this review, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle them. It is up to you and your team members to complete the process in time. TaxJar will only help you understand what you need to do , but not to handle it.
If you would 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 is automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to everything you require, including a list of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help to know the amount you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export the information as CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things that has to do with sales tax. You can look through their guides, webinars, and blog for more info. In addition the sales tax calculator is useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan should be ideal for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basics and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to choose premium plans instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations Integrations with APIs, teams of users and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. Matt Anderson TaxJar Email
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has 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
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it help you track the sales and profits of your business however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will surely help you wrap your mind around it. Matt Anderson TaxJar Email
If handling taxes is easy, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow, you might be better off doing it by yourself.
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FAQ Matt Anderson TaxJar Email
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.
