Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to employ an accountant, doing it on your own could be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Although this is quite an extensive read, you should be able to assess whether TaxJar is exactly what you need right now.
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, then let’s dive right in.
What is TaxJar? TaxJar Delaware
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. This means that there is no need to gather information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. It is up to you and your staff to complete the process in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports, and the data.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export the data to the form of a CSV file if you need it to aid in process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional information. Apart from that the sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most effective plan to help you in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business manager, the plan will be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get different from 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 if you add custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrationsfor team members and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the amount that the Premium plan costs you. TaxJar Delaware
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
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 the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- 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
- 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 valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can help you meet your deadlines. It is also a great option for accountants as they provide tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and obligation you have to fulfill. If you live in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Delaware
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure simple to follow then you’re better in doing it all on your own.
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FAQ TaxJar Delaware
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar will calculate your tax.
