Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar? TaxJar Gift Wrap
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. So, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is connect TaxJar it will take care of all the rest.
Other than 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 clients to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to manage these. But, it is up to you and your staff to complete the process on time. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating sales tax in order to record and process it. There could be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The best part about this option is the fact that it allows you to automatically update every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows you to see the sales tax totals in your business. It is also possible to export the information to CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. 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 are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the best 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 the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program should be perfect for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get that is more than the basic features Professional may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to opt for the Premium plan instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members, and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Gift Wrap
However, they did mention that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your business.
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 looking into other options, they have 30 days of free trial. This should be enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it aid in tracking your products and revenue It can help you meet your deadlines. It’s also an excellent platform for an accountant since they provide tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Gift Wrap
However, if managing your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar Gift Wrap
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate the tax.
