Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to engage an accountant doing it on yourself can be risky. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Forums
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax software perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. So, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is connect TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle these. It is up to you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which 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 it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you need, like an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only can they help to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. You can also export the data in the form of a CSV file in case you require 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 the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your 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 better how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. Check out their guides, webinars, as well as their blog to find more details. Additionally their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program should be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Forums
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on 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 check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Forums
However, if managing your taxes is straightforward, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you’re finding the entire process easy to do then you’re better in doing it all by yourself.
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FAQ TaxJar Forums
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar can calculate your tax.
