Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to engage an accountant performing the task on your own could be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Amnesty
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key data in one location. That way, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is integrate TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For this review, we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. However, it will be up to you and your team members to finish the tax returns in time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you would 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 taxes to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows you to fully view the total sales tax for your business. You can also export the information in the form of a CSV file in case you require it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. Additionally their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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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 costly for your business. This is why in this section we’ll examine 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 costs $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all the features of TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for different from the standard features Professional may be the best option for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. TaxJar Amnesty
However, they did say that this plan is customized for every user. Therefore, the cost will differ according to what you require 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 right for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is an excellent fit 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. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Amnesty
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole process easy to do, you might be better in doing it all on your own.
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FAQ TaxJar Amnesty
What are the areas in which 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 connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar determines the tax.
