Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to employ an accountant, performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. Even though this is lengthy it is possible to assess whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Blog District Of Colombuia
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you need to do is integrate TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns The team will guide you on how to handle the tax returns. It is up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you should do but not handle it.
If you’d 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 will be automated from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As 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. From there you and your team will have access to everything you need, such as a list of your transactions, reports, as well as data.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals in your business. Additionally, you can export your data in CSV format. CSV file if you need it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
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 when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things connected to sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition, 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 determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most suitable plan for you to help you in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller business proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrations, team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Blog District Of Colombuia
But they did state that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great option for accountants as they have the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar Blog District Of Colombuia
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Blog District Of Colombuia
Which areas does TaxJar provide API assistance?
TaxJar currently works with 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 make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar can calculate your tax.
