Taxes have always been one of the most difficult things to handle, 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 you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll 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 in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Amazon Florida Settings
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through their AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on managing the tax returns. It is up for you and your staff to complete everything in time. TaxJar is only there to provide guidance 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 fill out all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process them. 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 issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. You can also export the information as a CSV file if you need it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides and blog for more details. Additionally the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan could be perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to choose an upgrade instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team members, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Amazon Florida Settings
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax 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
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access 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 down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only will it help you track the sales and profits of your business however, it will assist you in meeting your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will certainly help you to get your head around it. TaxJar Amazon Florida Settings
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Amazon Florida Settings
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar can calculate the tax.
