Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
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 make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Back Taxes
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your most important metrics in one place. So, there’s no need to collect data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. In this review, we’ll take a look into both.
If you opt to do it manually, 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 how to manage these. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. But, it is possible to incur 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 help you with your accounting issues. 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, such as an inventory of your transactions, reports and data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. They not only let you know how much you’ve earned, but they also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals in your business. Additionally, you can export your data to the form of a CSV file if you need it in your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. Check out their guides, webinars, or blog posts for additional information. In addition the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business owner, this plan could be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to choose an upgrade instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations API integrationsfor team users and AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Back Taxes
But they did state that this plan is customized to each user. The cost of the plan will be different according to what you require for your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to 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
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for 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 valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar Back Taxes
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow, you might be better to do it by yourself.
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FAQ TaxJar Back Taxes
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate your tax.
