Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks 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 engage an accountant doing it on your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. Although this is quite lengthy it is possible to assess whether TaxJar is what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? Oregon TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. 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 ensure is your tax-reporting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage them. However, it will be up to you and your team to complete the process within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. They not only let you know how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the total sales tax within your company. It is also possible to export the information as the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps 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 in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but for anything 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 can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not offer all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking to get a bit more than just the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher 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 support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to choose an upgrade instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team members and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. Oregon TaxJar
However, they did say that the plan is custom-made for each user. The cost of the plan will be different according to what you require for your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is right 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 the right choice for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. Oregon TaxJar
However, if managing taxes is easy, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
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FAQ Oregon TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.
