TaxJar Doesn’T Match My Calculations

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Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to hire an accountant, performing the task on your own could be risky. If you make a mistake it could mean you need to repeat the process!

Almost everyone wants to skip this step. But since it’s required, we have no choice.

So what can we do about it?

It is always possible to make our lives easier by using tools like TaxJar.

Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is a long read it is possible to determine if TaxJar is the tool you require in the present.

Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.

If you prefer to read, let’s dive right in.

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What is TaxJar TaxJar Doesn’T Match My Calculations

The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.

TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.

What can it do to help you?

TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s look into their features and services.

TaxJar Doesn'T Match My Calculations

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Features and services

Integration

One of the most important things you’ll want to check is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for missing a single minor point.

TaxJar allows you to display your key metrics in one spot. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will handle the rest.

In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.

If you opt to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to handle these. But, it is up for you and your team to complete the process on time. TaxJar will only help you understand what you should do but not handle it.

If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. However, there might be additional costs if the feature is not included in the plan you chose.

Sales Tax Reports

As I mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, like the list of transactions, reports, and information.

The best part about this option is the fact that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve collected however, they can also help you determine when your next payments are due.

Their dashboard also allows users to view in detail the total sales tax in your business. You can also export the data as a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.

Streamlining and Training

TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.

Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.

What’s more is that TaxJar offers tutorials and training, not just on their platform, but all things connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Additionally the sales tax calculator is 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 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 tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.

Starter

The Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.

If you’re a smaller company owner, this plan could be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.

You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.

Professional

If you’re looking for something different from the standard features and options, then the Professional plan might be the right one for you. It starts at $99, however, it could go up 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 options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.

Premium

If you have a massive business, you might need 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 as well as Integrations with APIs, teams of members and AutoFiles.

There is also a team dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Doesn’T Match My Calculations

However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.

Free Trial

Fortunately, you don’t need 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. It should give you enough time to determine whether the software 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 advantages and disadvantages of making use of TaxJar to run your business.

Pros

  • There is the Tax Advisor option for some plans
  • AutoFile features can help you save time
  • Available in most USA states
  • Offers an online sales tax calculator
  • Support service team
  • The dashboard is easy to navigate
  • It offers a free trial of 30 days.
  • It is possible to integrate it with other platforms
  • It allows you to monitor multiple sales channels

Cons

  • Limits for AutoFile are based on the plan
  • AutoFile has extra fees
  • Certain countries will not be able to access the API feature.
  • Only applicable for USA customers.
  • Owners and accountants should recheck local legislations

The Final Verdict

With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.

Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.

Using TaxJar can help you reduce time and keep on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Doesn’T Match My Calculations

But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete, you might be better to do it by yourself.

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FAQ TaxJar Doesn’T Match My Calculations

What are the areas in which TaxJar provide API support?

TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.

Can I incorporate Shopify into TaxJar?

Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.

Are there any ways to exchange one type of currency with TaxJar?

Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it to US$ before TaxJar determines your tax.

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