Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have enough money to hire an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Although this is quite an extensive read, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? North Carolina Sales Tax TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of 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 is compatible with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key data in one location. So, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on managing these. It is up for you and your staff to finish the tax returns in time. TaxJar is only there to guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. Additionally, you can export the information in the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things connected to sales tax. Check out their guides, webinars, and blog for more info. In addition their sales tax calculator is useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business owner, this plan should be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get a bit more than just the basics Professional might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to 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 run a large enterprise, you may want to choose an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. North Carolina Sales Tax TaxJar
But they did state that this plan is tailor-fit for 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 see if this platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge if the platform is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple 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 applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your head around it. North Carolina Sales Tax TaxJar
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ North Carolina Sales Tax TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar can calculate your tax.
