Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to employ an accountant, doing it on your own could be risky. If you make a mistake it could mean you have to do it all over 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 simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. While this is a long read, you should be able to gauge whether TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Dashboard And Sales Tax Report Don’T Match
Founded in 2013, TaxJar is an online platform that assists you in automating 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 your channels of sales to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few 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.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. This means that there is no need to gather data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income The team will guide you on managing them. But, it is up to you and your team to complete the process on time. TaxJar is there to help you understand what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The best part about this feature is that it lets you to update your account automatically each day. They not only let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. It is also possible to export the data to CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more details. Additionally the sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan should be ideal for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to go for the Premium plan instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users and AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Dashboard And Sales Tax Report Don’T Match
However, they did say that the plan is custom-made for every user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is 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 see if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
Pros
- There is 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 possible to integrate it with other platforms
- It allows you to monitor multiple 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 valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around the subject. TaxJar Dashboard And Sales Tax Report Don’T Match
However, if managing taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ TaxJar Dashboard And Sales Tax Report Don’T Match
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar determines your tax.
