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 accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the funds to employ an accountant, performing the task on your own can be risky. If you miss one detail it could mean you need to repeat the process!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is an extensive read but you’ll be able to determine if TaxJar is what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Eu Vat
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax system is compatible along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. That way, there’s no need to gather data from different channels and organize it into a single platform. All you need to do is integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on managing these. It is up for you and your team members to complete the process in time. TaxJar is only there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as the list of transactions, reports, as well as data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. Additionally, you can export the information as the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan could be ideal for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the basic features Professional could be the one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data API integrations, team users, and AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal the amount that the Premium plan costs you. TaxJar Eu Vat
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you 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.
- 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 for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Eu Vat
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. 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 Eu Vat
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ before TaxJar can calculate your tax.
