TaxJar Filing Manual

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Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant making it yourself can be risky. If you miss one detail, you might have to do it all over again!

Most people want 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 make life 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 a long read it is possible to determine if TaxJar is the tool you require today.

Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.

If you prefer to read, then we’ll dive right into.

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What exactly is TaxJar? TaxJar Filing Manual

Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.

TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.

How can it help you?

TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.

TaxJar Filing Manual

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Services and features

Integration

One of the first things you’ll want to check is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.

TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar, it will do the rest.

Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll take a look at both.

If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to manage these. But, it is up to you and your team members to finish the tax returns on time. TaxJar is there to help you understand what you should do , but not to handle it.

If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales in order to record and process them. There could be additional charges if they are not part of the plan you choose.

Sales Tax Reports

As we mentioned it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including a list of your transactions, reports, and information.

The best part about this option is the fact that it lets you to automatically update every day. They not only 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 see the sales tax totals within your company. You can also export your data to a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for central reporting.

Training and Streamlining

TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.

Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have available for other operational expenses.

The best part is that TaxJar offers tutorials and training not only on their platform, but all things related to sales tax. You can check out their webinars, guides, or blog posts for additional info. Additionally 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 understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, 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 or reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.

If you’re a small-scale business proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.

In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.

Professional

If you’re looking for something that is more than the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.

What is the difference from the basic plan?

Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.

Premium

If you run a large enterprise, you may want to go for premium plans instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.

They also have a staff that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Filing Manual

But they did state that this plan is tailor-fit for each user. So the costs will vary in line with what you require to run your business.

Free Trial

It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see if the platform is an excellent fit for you.

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Pros and Pros and

After we’ve gone over everything you should know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar for your company.

Pros

  • Has the Tax Advisor option for some plans
  • AutoFile features help to reduce time
  • Available in most USA states
  • Provides on the internet for sales tax calculator
  • Has support service team
  • The dashboard is simple to navigate
  • Offers a 30-day free trial
  • It can be integrated with other platforms.
  • Allows you to track multiple sales channels

Cons

  • AutoFile limit is based on the plan
  • AutoFile has extra fees
  • Some countries won’t be able to access the API feature
  • Only applicable for USA customers.
  • It is important for owners and accountants to review local laws

The Final Verdict

With everything laid down, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.

Not only can it help you track the sales and profits of your business It can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.

Using TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this can definitely help you get your head around the subject. TaxJar Filing Manual

However, if managing your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure simple to follow then you’re better to do it by yourself.

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FAQ TaxJar Filing Manual

Which areas does TaxJar offer API assistance?

TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.

Can I incorporate Shopify into TaxJar?

Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.

Can I convert any kind 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 need to convert it into USdollars prior to when TaxJar determines your tax.

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