Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, performing the task on yourself can be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking video streaming instead? 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 get right into it.
What is TaxJar TaxJar Colorado Home City
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates along with sales funnels. If you have multiple sales channels, you need 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 allows you to show your key metrics in one place. So, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is to integrate 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 they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to handle them. However, it will be up for you and your staff 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 the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. They not only let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export the data as a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to scramble for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but everything related to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan will be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get different from the basic features Professional could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to go for premium plans instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal how much the Premium plan costs you. TaxJar Colorado Home City
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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 be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue It can also help you meet your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Colorado Home City
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Colorado Home City
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate the tax.
