Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, making it your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is a long read, you should be able to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar Sales Tax Medical Equipment TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no requirement to collect data in multiple channels and sort it into a single 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 in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For this review, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to handle them. It is up to you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you should do but not 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 any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, such as a list of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax within your company. It is also possible to export your data in a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. In addition their sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company proprietor, then this program will be ideal for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to 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. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. costs you. Sales Tax Medical Equipment TaxJar
But they did state that this plan is customized for each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see whether the software is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- There is 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
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several 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 valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. It is also a great opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your mind around it. Sales Tax Medical Equipment TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure simple to follow, you might be better to do it by yourself.
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FAQ Sales Tax Medical Equipment TaxJar
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together 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 currency values. The transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.
