Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, making it your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
So what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is lengthy, you should be able to determine if TaxJar is what you need in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Amazon Address Of Nexus
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used 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.
Services and features
One of the first things you’ll need to ensure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on how to manage these. It is up for you and your staff to complete everything on time. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, like the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to see the overall sales taxes in your business. Additionally, you can export the data in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to scramble for your documents when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can look through their guides, webinars, and blog for more details. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
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 expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something different from the basics Professional might be the right one for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Amazon Address Of Nexus
But they did state that this plan is customized for each user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is 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 service is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it help you track your revenue and products It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your mind around it. TaxJar Amazon Address Of Nexus
If handling your taxes is simple, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure easy to complete then you’re better in doing it all by yourself.
FAQ TaxJar Amazon Address Of Nexus
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.