Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant doing it on your own can be risky. If you overlook one thing, you might have to redo things again!
Most people want to avoid this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Even though this is an extensive read it is possible to gauge whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar California Economic Nexus
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no requirement to collect data in multiple channels and sort it into one platform. All you have to do is to integrate TaxJar, then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on managing them. However, it will be up to you and your team members to complete everything in time. TaxJar will only 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 the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to everything you need, such as the list of transactions, reports, as well as the data.
The best part about this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. You can also export the information in a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional information. In addition their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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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 expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small business proprietor, then this program could be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the basic features, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited data import integrations API integrations, team members and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. costs you. TaxJar California Economic Nexus
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need for your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue It can also help you meet the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this will surely help you wrap your head around the subject. TaxJar California Economic Nexus
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do, you might be better to do it by yourself.
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FAQ TaxJar California Economic Nexus
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate the tax.
