Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. In the event that you do not have enough money to hire an accountant, doing it on yourself can be dangerous. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skip 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?
We can always make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar Ryan Thimpson TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns The team will guide you on how to handle the tax returns. It is up to you and your team to complete everything in time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process it. However, there might be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports and information.
The greatest benefit of this feature is that it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to see the sales tax totals within your company. You can also export the data as CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. 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 not only for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides, and blog for more information. In addition their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program could be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for different from the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to opt for the Premium plan instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations API integrationsfor team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Ryan Thimpson TaxJar
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see whether the service is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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 applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then should try this.
Not only will it help you track your revenue and products however, it will also help you meet your deadlines. It is also a great option for accountants as they offer tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will surely help you wrap your head around the subject. Ryan Thimpson TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do then you’re better off doing it on your own.
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FAQ Ryan Thimpson TaxJar
Which areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate your tax.
