Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage 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. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. While this is an extensive read, you should be able to determine if TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar California Address Of Nexus Fba
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life 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 streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. That way, there’s no need to collect data from different channels and sort it into one platform. All you have to do is connect TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns The team will guide you on managing these. But, it is up for you and your staff to finish the tax returns on time. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax to recording and processing it. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce 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 a list of your transactions, reports, and information.
The best part about this feature is that they allow you to automatically update every day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. You can also export the information in CSV format. CSV file if you need it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you need them in the event of a need. Even even if you already have an accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition, their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrationsfor 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 costs you. TaxJar California Address Of Nexus Fba
However, they did say that the plan is custom-made for each user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has 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.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products, but it can help you meet your deadlines. It’s also an excellent option for accountants as they have a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar California Address Of Nexus Fba
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar California Address Of Nexus Fba
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind 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 to USdollars before TaxJar determines the tax.