Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the funds to employ an accountant, doing it on your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. Although this is quite a long read but you’ll be able to assess whether TaxJar is what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Amazon Address Of Nexus California
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. In this review, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. But, it is up to you and your team to finish the tax returns in time. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
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 put together into a single dashboard through this platform. From there, you and your team will have access to all the information you require, including a list of your transactions, reports, as well as the data.
The best part about this option is the fact that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals in your business. You can also export the data as the form of a CSV file if you need it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company owner, this plan could be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basics, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for an upgrade instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal how much the Premium plan will cost you. TaxJar Amazon Address Of Nexus California
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to gauge whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Amazon Address Of Nexus California
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete then you’re better to do it on your own.
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FAQ TaxJar Amazon Address Of Nexus California
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines your tax.
