Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping 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 always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. Even though this is lengthy it is possible to gauge whether TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Add Second Login
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require 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 companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data from different channels and sort it into a single platform. All you have to do is connect TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings by hand or using the 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 the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage them. But, it is up for you and your staff to finish the tax returns on time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your team will have access to all the information you need, like an inventory of your transactions, reports and data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. They not only let you keep track of how much you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export your data in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can check out their webinars, guides or blog posts for additional info. In addition, their sales tax calculator should be beneficial when 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 determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you to help you with filing requirements or 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 basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company owner, this plan could be perfect for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for that is more than the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrations, team members, and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Add Second Login
But they did state that this plan is customized for every user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see whether the software is an excellent fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has 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
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Add Second Login
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do then you’re better to do it on your own.
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FAQ TaxJar Add Second Login
Which 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 together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar will calculate your tax.
