Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the funds to hire an accountant, doing it on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Although this is quite lengthy, you should be able to assess whether TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar For Netsuite
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one 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 help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage them. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you should do but not handle 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 will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as the list of transactions, reports, as well as the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let to know the amount you’ve collected however, they can also help you track when your following payments are due.
The dashboard allows you to see the overall sales taxes for your business. It is also possible to export the information to CSV format. CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to search for your documents when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. You can check out their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations API integrations, team users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar For Netsuite
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the software is the right choice for you.
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Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only can it aid in tracking your revenue and products It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar For Netsuite
However, if managing your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do then you’re better to do it by yourself.
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FAQ TaxJar For Netsuite
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines the tax.
