Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to employ an accountant, doing it on your own could be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Business License Washington
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. 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 system perfectly integrates with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. That way, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns The team will guide you on how to manage these. But, it is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team can access everything you need, such as a list of your transactions, reports and data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve earned, but they also help you track when your following payments are due.
The dashboard allows you to see the total sales tax for your business. You can also export the information as CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but all things related to sales tax. Check out their guides, webinars, and blog for more info. In addition their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. 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. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes sales tax reporting, four autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan should be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the basic features Professional could be the one for you. It starts at $99, but you can increase it by adding 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 have the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to choose an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar Business License Washington
However, they did mention that this plan is customized to each user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to determine whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize, here are the pros and cons of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you 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
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor 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
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Business License Washington
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Business License Washington
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar determines your tax.
