Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have enough money to employ an accountant, making it your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Watch 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 we’ll dive right into.
What is TaxJar Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. 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 ensure is that your accounting tax platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one place. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. 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. For our review we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage these. However, it will be up for you and your team members to finish the tax returns in time. TaxJar is there to help you understand what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that 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. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. They not only let you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export the data to CSV format. CSV file if you need it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. Check out their webinars, guides and blog for more info. Apart from that the sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get a bit more than just 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 when you add additional features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to go for an upgrade instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team members and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Sales Tax TaxJar
However, they did mention that the plan is custom-made for each user. So the costs will vary in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to gauge whether the software is a good 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. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not 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 clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous 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 It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to 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 laws, this can certainly help you to get your mind around it. Sales Tax TaxJar
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete then you’re better in doing it all on your own.
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FAQ Sales Tax TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar will calculate your tax.
