Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to employ an accountant, performing the task on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. Even though this is lengthy it is possible to determine if TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Displaying All Sales As Exempt
In 2013, TaxJar was established. 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 the sales channels you use to ensure compliance with sales tax requirements. It streamlines 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 institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle these. It is up for you and your staff to complete the process on time. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals for your business. It is also possible to export the information to the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also all things related to sales tax. You can check out their webinars, guides and blog for more information. Additionally their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller business owner, this plan could be perfect for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Displaying All Sales As Exempt
But they did state that this plan is tailor-fit for every user. So the costs will vary depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Displaying All Sales As Exempt
But if handling your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ TaxJar Displaying All Sales As Exempt
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 integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.
