Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant doing it on yourself can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
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 help you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require in the present.
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 review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Free Account
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as 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 organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax system is compatible with your sales channel. 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 face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. So, there’s no need to collect data in multiple channels and organize it into a single platform. All you have to do is to integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on managing the tax returns. It is up for you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales taxes to recording and processing it. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team will have access to all the information you need, like the list of transactions, reports, as well as data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax within your company. You can also export your data to CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform but for anything related to sales tax. You can look through their guides, webinars, and blog for more details. Additionally the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller business owner, this plan will be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something that is more than the standard features Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to go for the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrationsfor team members and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Free Account
However, they did say that this plan is customized to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of making use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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 have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it help you track your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Free Account
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better off doing it on your own.
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FAQ TaxJar Free Account
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.
