Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant performing the task on your own can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Dropshipping
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns The team will guide you on how to manage the tax returns. However, it will be up to you and your team members to complete everything on time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including an inventory of your transactions, reports and the data.
The best part about this feature is that it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. It is also possible to export the data to the form of a CSV file if you need it for your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount 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 available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but everything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional information. In addition, their 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 understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan to help you in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It may not offer all the features of TaxJar but it comes with 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 for that is more than the basic features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Dropshipping
But they did state that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is the right choice for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you do, then you should try this.
Not only can it help you track your revenue and products It can assist you in meeting your deadlines. It is also a great platform for an accountant since they have tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar Dropshipping
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar Dropshipping
Which 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 incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar can calculate your tax.
