Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have any experience 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 the budget to engage an accountant performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar Stackoverflow TaxJar Php
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. 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 need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. That way, there’s no requirement to collect data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle them. But, it is up to you and your team members to complete everything on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to 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 everything you need, such as a list of your transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. Additionally, you can export your data to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides and blog for more details. In addition the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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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’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something different from the standard features, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to opt for premium plans instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Stackoverflow TaxJar Php
But they did state that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
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Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not 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 out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can definitely help you get your head around the subject. Stackoverflow TaxJar Php
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do, you might be better to do it by yourself.
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FAQ Stackoverflow TaxJar Php
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar can calculate the tax.
