Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to hire an accountant, doing it on your own could be dangerous. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can always make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite an extensive read, you should be able to determine if TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? Quickbooks Using 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 your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to handle these. But, it is up for you and your staff to complete everything on time. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including a list of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. They not only let to know the amount you’ve collected, but they also help you track when your following payments are due.
The dashboard allows you to see the overall sales taxes in your business. You can also export the data to the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides or blog posts for additional info. In addition the sales tax calculator should 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. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. They say it’s the best plan to help you with filing requirements and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
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 for something different from the basic features, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to opt for premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. Quickbooks Using TaxJar
But they did state that the plan is custom-made for every user. Therefore, the cost will differ in line with 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 various options, they provide 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- Allows you to track 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 valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then should try this.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Quickbooks Using TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ Quickbooks Using TaxJar
What areas does TaxJar offer API support?
TaxJar currently supports 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 for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate your tax.
