Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the funds to employ an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
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 popular life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos 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, we’ll dive right into.
What is TaxJar Quickbooks Online Sync With TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather data in multiple channels and sort it into one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage the tax returns. However, it will be up for you and your team members to finish the tax returns within the timeframe. TaxJar is only there to guide you 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 don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, as well as the data.
The greatest benefit of this feature is that it allows you to update automatically every day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let 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 the data as a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. Check out their webinars, guides, as well as their blog to find more details. Additionally their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basics Professional might be the right one for you. The price starts at $99 however, it could go up by adding 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 the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose premium plans instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. Quickbooks Online Sync With TaxJar
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your business.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy 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
- 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
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses 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 the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you live in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. Quickbooks Online Sync With TaxJar
If handling taxes is easy, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it on your own.
FAQ Quickbooks Online Sync With TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar will calculate the tax.