Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to hire an accountant, performing the task on your own could be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to assess whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Ecommerce Cpa Recommendations
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your sales channels 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 minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, 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 keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar then the system will do 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 file their sales taxes by hand or using their AutoFile feature. For our review we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your team to complete the process on time. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online 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 information.
The best part about this option is the fact that it allows you to update your account automatically each day. They not only let to know the amount you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the total sales tax for your business. You can also export the data as CSV format. CSV file, if you want to use it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more details. In addition, their 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 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 look into TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for something that is more than the basic features, then the Professional plan may be the best option for you. It starts at $99, but you can increase it 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, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Ecommerce Cpa Recommendations
But they did state that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax 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
- It allows you to monitor 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.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only will it aid in tracking your products and revenue It can also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Ecommerce Cpa Recommendations
However, if managing your taxes is straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar Ecommerce Cpa Recommendations
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.
