Taxes have always been one of the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it your own can be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. While this is lengthy, you should be able to determine if TaxJar is what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Dropshipping Sales Tax
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. 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 missing a single minor point.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For this review, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on managing these. But, it is up to you and your team to complete the process in time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. This feature will ensure that 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 chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you require, including the list of transactions, reports, and information.
The most appealing aspect of this feature is that it lets you to update automatically every day. They not only let you keep track of how much you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals within your company. It is also possible to export your data to a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can check out their webinars, guides, or blog posts for additional info. Additionally the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It comes with 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 tips.
If you’re a small company owner, this plan should be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for a bit more than just the basic features Professional could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to choose premium plans instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan costs you. TaxJar Dropshipping Sales Tax
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. To sum it all up, here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple 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 for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done 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 definitely help you get your mind around it. TaxJar Dropshipping Sales Tax
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Dropshipping Sales Tax
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.
