Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is what you need today.
Prefer video streaming instead? Watch 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 exactly is TaxJar? TaxJar For Squarespace
Founded in 2013, TaxJar is an application that automatizes 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 the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must ensure that everything is in order. 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 place. This means that there is no requirement to collect information from multiple sources and sort it into one platform. All you need to do is connect TaxJar, then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose 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 the filing of income tax returns The team will guide you on managing these. However, it will be up for you and your team to finish the tax returns in time. TaxJar is there to guide you on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your team can access everything you need, such as the list of transactions, reports and information.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes within your company. It is also possible to export the data to CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but for anything related to sales tax. Check out their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and 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 perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for a bit more than just the standard features Professional could be the one for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for an upgrade instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrationsfor team users, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar For Squarespace
However, they did say that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Fortunately, you don’t need 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 if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it aid in tracking your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your mind around it. TaxJar For Squarespace
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole process easy to do then you’re better to do it on your own.
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FAQ TaxJar For Squarespace
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of 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 to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar will calculate your tax.
