Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, performing the task on your own can be risky. If you overlook one thing it could mean you need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? Remove Magento TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to handle them. However, it will be up to you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, such as an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. Additionally, you can export the data to the form of a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you need them in a pinch. Even when you already have your 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 funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The 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 sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small business manager, the plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact 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 a bit more than just the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge business, you might need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. Remove Magento TaxJar
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to gauge whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your mind around it. Remove Magento TaxJar
If handling your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure simple to follow, you might be better in doing it all by yourself.
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FAQ Remove Magento TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify 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 doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.
