Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, doing it on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Even though this is a long read but you’ll be able to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar California Modified Origin
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. 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 you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no need to gather data in multiple channels and sort it into one platform. All you need to do is connect TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income The team will guide you on managing these. It is up for you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports and information.
The best part about this feature is that they allow you to automatically update every day. They not only let you know how much you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals for your business. You can also export the data as a CSV file in case you require it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials not only on their platform, but everything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more details. Apart from that the sales tax calculator can be helpful if you’re planning on complete everything 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. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan to help you in filing and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller company owner, this plan will be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something a bit more than just the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to choose the Premium plan instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar California Modified Origin
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this 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. This should be enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for 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 Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it help you track the sales and profits of your business however, it will also help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar California Modified Origin
However, if managing taxes is easy, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete, you might be better off doing it by yourself.
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FAQ TaxJar California Modified Origin
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to 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 currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.
