Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to engage an accountant making it yourself can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do ?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Aimeos
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is your tax-reporting software seamlessly works well with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage them. But, it is up to you and your team members to complete everything in time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. 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 the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. It is also possible to export the information in CSV format. CSV file in case you require it for your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also all things connected to sales tax. You can check out their guides, webinars, and blog for more info. Additionally the 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 are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be ideal for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the basics, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Aimeos
However, they did say that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple 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 valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Aimeos
However, if managing taxes is easy and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ TaxJar Aimeos
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar determines your tax.
