Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the budget to engage an accountant making it your own could be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
What can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. While this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Do you 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.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Duplicate Transactoins
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to gather information from multiple sources and organize it into one platform. All you need to do is connect TaxJar, it will do 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 that they can connect with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In our review we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on how to handle them. But, it is up for you and your team members to complete the process in time. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined 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, such as a list of your transactions, reports and data.
The most appealing aspect of this feature is that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes in your business. It is also possible to export your data as a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures 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.
The best part is that TaxJar offers tutorials and training, not just for their platform but everything connected to sales tax. Check out their webinars, guides, as well as their blog to find more details. In addition their sales tax calculator is 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 establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business owner, this plan will be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team users and AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Duplicate Transactoins
However, they did say that the plan is custom-made for each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has 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
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your products and revenue It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Duplicate Transactoins
But if handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar Duplicate Transactoins
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.
