Taxes are always one of the hardest things to do, whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to engage an accountant doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to gauge whether TaxJar is what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar App For Vape Store Shopify
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to make their business more simple and organized. 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 seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is to integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. In this review, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to handle these. However, it will be up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you need to 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 all forms by hand. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, like the list of transactions, reports, and data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export the data as the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this 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 more effectively. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but for anything related to sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan could be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the standard features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to choose premium plans instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar App For Vape Store Shopify
But they did state that the plan is custom-made to each user. So the costs will vary in line with what you require for your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service 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 software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can 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
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue It can help you meet the deadlines you set. This is also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar App For Vape Store Shopify
If handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar App For Vape Store Shopify
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.
