Taxes are always one of the most difficult things to handle, 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 your whole day is packed with things to do. If you don’t have the budget to engage an accountant doing it on your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Even though this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Entity Exempt
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It streamlines 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 institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates with your sales channel. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no need to gather data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll take a look at both.
If you decide to manually file your tax returns, 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 managing them. It is up for you and your team to finish the tax returns on time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. There could be 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 help you with your accounting woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you need, such as an inventory of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated 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 for your business. It is also possible to export your data in CSV format. CSV file if you need it in your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be perfect for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to opt for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrationsfor team members, and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Entity Exempt
But they did state that the plan is custom-made for each user. So the costs will vary according to what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to help you track your revenue and products however, it will help you meet the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Entity Exempt
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar Entity Exempt
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar determines the tax.
