Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford enough money to employ an accountant, making it your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar File Manually
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s look into their features and services.
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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 is compatible with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar and the platform 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 highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. But, it is up to you and your team to complete the process on time. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease 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 the list of transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you know how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. It is also possible to export the information as the form of a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also all things connected to sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator is useful if 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 set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It 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 recommendations.
If you’re a small-scale business owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for that is more than the basics Professional might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. TaxJar File Manually
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can 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 valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you should try this.
Not only will it help you track your revenue and products It can also help you meet your deadlines. It is also a great option for accountants as they offer a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar File Manually
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar File Manually
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar determines the tax.
