Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is lengthy but you’ll be able to gauge whether TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Blog Arizona
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. This means that there is no need to gather information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For our review we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. However, it will be up to you and your staff to complete the process on time. TaxJar is there to guide you on 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 submit any forms manually. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports, and information.
The best part about this feature is that it lets you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to see the sales tax totals for your business. You can also export the data in CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform but everything connected to sales tax. Check out their webinars, guides, or blog posts for additional information. In addition, their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures 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 is priced at $19. They say it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business manager, the plan should be ideal for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something a bit more than just the basics, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to go for an upgrade instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Blog Arizona
However, they did say that the plan is custom-made for every user. So the costs will vary according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to see if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce 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 able to be integrated 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 recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you save more time while keeping track of every deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar Blog Arizona
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete, you might be better to do it by yourself.
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FAQ TaxJar Blog Arizona
Which 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 incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar will calculate your tax.
