Q Tax 1

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Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to engage an accountant performing the task on your own could be dangerous. If you overlook one thing, you might have to do it all over again!

Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.

So , what is the best way to deal with it?

It is always possible to make life easier by using tools like TaxJar.

Here we’ll take a look at this popular life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to gauge whether TaxJar is what you need in the present.

Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.

But for those who prefer to read, then let’s dive right in.

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What exactly is TaxJar? Q Tax 1

In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.

TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.

How can this help you?

TaxJar is widely used by online business owners to make their business more neat and simple. Let’s look into their features and services.

Q Tax 1

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Features and services

Integration

One of the first things you’ll want to check you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must 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 data in one location. So, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is integrate TaxJar then the system will take care of all the rest.

Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. For our review we’ll dig at both.

If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income The team will guide you on managing the tax returns. It is up for you and your staff to complete the process on time. TaxJar is there to help you understand what you need to do , but not to handle it.

If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating sales taxes to recording and processing them. There could be additional charges if they are you do not include this feature in the plan you select.

Sales Tax Reports

As I mentioned earlier, you can use TaxJar to ease your accounting problems. 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 will have access to all the information you need, such as an inventory of your transactions, reports, as well as the data.

The best part about this option is the fact that it allows you to automatically update every day. Not only will they let you know how much you’ve earned however, they can also help you track when your following payment is due.

Their dashboard can also allow you to see the total sales tax for your business. You can also export the data to the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for centralized reporting.

Streamlining and Training

TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.

Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have for other operating costs.

But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything connected to sales tax. You can look through their webinars, guides, or blog posts for additional details. Additionally their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.

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How much does TaxJar cost?

We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.

Starter

The Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.

If you’re a small-scale business proprietor, then this program should be perfect for you. It might not include all the features of TaxJar, but it has the essentials that you need.

In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.

Professional

If you’re looking for something different from the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.

So how different is it from the basic plan?

In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.

Premium

If you own a huge company, you may need to opt for the Premium plan instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrations, team members, and AutoFiles.

There is also a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. Q Tax 1

But they did state that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your business.

Free Trial

Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is an excellent fit for you.

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Pros and Cons

Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the 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
  • Provides an online sales tax calculator
  • Has support service team
  • The dashboard is simple to navigate
  • It offers a free trial of 30 days.
  • 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
  • Certain countries will not be able to access the API feature.
  • Only applicable for USA customers.
  • It is important for owners and accountants to check local legislation

The Final Verdict

With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that sounds like what you do, then you must try TaxJar.

Not only will it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.

Using TaxJar can allow you to save more time while keeping the track of each deadline and requirement you have to meet. If you live in an area with complex tax regulations, this will certainly help you to get your head around the subject. Q Tax 1

However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.

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FAQ Q Tax 1

What areas does TaxJar offer API assistance?

TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.

Can I connect Shopify together with TaxJar?

Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.

Are there any ways to exchange one kind of currency using TaxJar?

Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar determines your tax.

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