Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant making it yourself can be risky. If you miss one detail it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy, you should be able to assess whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Autofile Iowa Amazon Warehouse Location
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses 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 you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. So, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. For our review we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to manage the tax returns. It is up to you and your team to complete the process in time. TaxJar will only help you understand what you have 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 any forms manually. Through this feature, everything is automated, from calculating taxes on sales in order to record and process them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, like a list of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax for your business. You can also export your data in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, and blog for more info. Additionally the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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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’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company proprietor, then this program could be ideal for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
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 for something that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to opt for premium plans instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Autofile Iowa Amazon Warehouse Location
But they did state that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge 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 break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce 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 is able to 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 applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to help you track the sales and profits of your business however, it will assist you in meeting your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Autofile Iowa Amazon Warehouse Location
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure simple to follow, you might be better in doing it all by yourself.
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FAQ TaxJar Autofile Iowa Amazon Warehouse Location
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.
