Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it yourself can be risky. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. While this is an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Developer Login
In 2013, TaxJar was established. 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. In addition, you can apply it across all of your sales channels to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more 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 system seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
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 organize it into one platform. All you need to do is integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. But, it is up to you and your team members to complete the process in time. TaxJar is there to guide you on what you need 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 submit all forms by hand. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. 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 team will have access to everything you need, such as a list of your transactions, reports and the data.
The greatest benefit of this feature is that it allows you to automatically update every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows you to fully view the total sales tax for your business. It is also possible to export the data in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance 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 offers training and tutorials, not just for their platform but all things related to sales tax. Check out their guides, webinars, and blog for more info. Additionally the sales tax calculator is useful if 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 costly for your business. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the best plan to help you in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get different from the standard features Professional might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to choose premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Developer Login
But they did state that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see whether the software is the right choice for you.
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Pros and Pros and
Now that we’ve covered all 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 to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to 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 to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your mind around it. TaxJar Developer Login
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete then you’re better off doing it by yourself.
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FAQ TaxJar Developer Login
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.
