TaxJar Growth

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Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have enough money to hire an accountant, doing it on yourself can be dangerous. If you miss one detail, you might need to repeat the process!

Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.

What can we do about it?

We can always make life easier by using tools like TaxJar.

We’ll look at this well-known life-saving tool and how it can benefit you. While this is an extensive read it is possible to assess whether TaxJar is what you need today.

Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.

For those who like to read, let’s dive right in.

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What is TaxJar TaxJar Growth

Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.

TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.

How can this help you?

TaxJar is extensively used by online business owners to ensure that everything is simple and organized. 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 want to check you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.

TaxJar lets you display your critical data in one location. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar, and the platform will do the rest.

In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.

If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to handle them. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.

If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need 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. But, it is possible to incur additional costs if the feature is not part of the plan you choose.

Sales Tax Reports

As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team can access everything you require, including the list of transactions, reports, and data.

The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payment is due.

Their dashboard can also allow you to fully view the total sales tax in your business. You can also export your data as CSV format. CSV file, if you want to use it to aid in 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 channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.

Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have available for other operating costs.

But what’s even better is that TaxJar offers tutorials and training not only on their platform, but all things related to sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator should be helpful if you’re planning on do everything on your own.

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How much does TaxJar cost?

We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.

Starter

The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or 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 starter plan, you can access their AI tax recommendations.

If you’re a smaller company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.

In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration capabilities.

Professional

If you’re looking for something that is more than the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.

What is the difference from the starter plan?

Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.

Premium

If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of members as well as AutoFiles.

They also have a staff dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Growth

However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your company.

Free Trial

Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to see whether the service is a good fit for you.

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Pros and Cons

After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.

Pros

  • There is 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 simple 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

  • AutoFile limit is based on the plan
  • AutoFile has extra fees
  • Certain countries will not have access to the API feature.
  • Only applicable for USA customers
  • Owners and accountants should recheck local legislations

The Final Verdict

With everything clearly laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.

Not only can it help you track your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.

Utilizing TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Growth

However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.

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FAQ TaxJar Growth

What are the areas in which TaxJar offer API support?

TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.

Do I have the ability to connect Shopify into TaxJar?

Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.

Do I have the ability to convert every kind of currency with TaxJar?

Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar determines your tax.

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