Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it your own could be dangerous. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to determine if TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar Sales Tax Community TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage them. But, it is up to you and your team members to complete everything on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales to recording and processing it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined 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, like an inventory of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export your data in CSV format. CSV file if you need it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their guides, webinars, and blog for more info. In addition their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans that are: 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 in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan will be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to having access to 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 have a massive enterprise, you may want to choose an upgrade instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. Sales Tax Community TaxJar
But they did state that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
It’s a good thing that 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. It should give you enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has 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
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It is also a great option for accountants as they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax regulations, this will surely help you wrap your mind around it. Sales Tax Community TaxJar
If handling your taxes is simple, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ Sales Tax Community TaxJar
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together 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 with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.
