TaxJar Guides

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Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, making it your own can be risky. If you make a mistake, you might need to repeat the process!

Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.

So , what is the best way to deal with it?

It is always possible to make our lives easier by using tools like TaxJar.

This article will take a look at this well-known life-saving device and how it can benefit you. While this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.

Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.

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

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What is TaxJar? TaxJar Guides

The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.

TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.

How can it help you?

TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.

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Services and features

Integration

One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well 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 be penalized for missing a single minor point.

TaxJar allows you to show your key data in one location. So, there’s no requirement to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.

Other than that, TaxJar also integrates with other platforms to assist in the process of making 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 customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.

If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your team to complete the process on time. TaxJar is only 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, which means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you chose.

Sales Tax Reports

As we mentioned that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like an inventory of your transactions, reports and data.

The most appealing aspect of this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.

Their dashboard also allows you to see the total sales tax in your business. You can also export the information in the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for centralized reporting.

Streamlining and Training

TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.

Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.

What’s more is that TaxJar offers tutorials and training not only on their platform, but for anything related to sales tax. Check out their guides, webinars, or blog posts for additional info. Apart from that, their sales tax calculator can be useful if you’re planning to do everything on your own.

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How much does TaxJar cost?

We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.

Starter

Their 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 comes with sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.

If you’re a smaller business owner, this plan will be ideal for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.

Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.

Professional

If you’re looking to get 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 you can increase it when you add additional features.

How different is it from the original plan?

In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.

Premium

If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.

There is also a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Guides

However, they did mention that the plan is custom-made for each user. The cost of the plan will be different according to what you require to run 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 a 30-day free trial. This should give you enough time to gauge if the platform is a good fit for you.

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Pros and Cons

Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your company.

Pros

  • There is a Tax Advisor option for some plans
  • AutoFile features can help you save time
  • Available in most USA states
  • Provides on the internet for sales tax calculator.
  • Has 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
  • Allows you to track multiple sales channels

Cons

  • Limits for AutoFile are based on the plan
  • AutoFile has extra fees
  • Some countries won’t be able to access the API feature
  • Only applicable to USA customers.
  • Needs accountants and owners to recheck local legislations

The Final Verdict

With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.

It’s not just a way to aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.

Utilizing TaxJar can help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Guides

But if handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better off doing it on your own.

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FAQ TaxJar Guides

What areas does TaxJar offer 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 integrate Shopify with TaxJar?

Yes. You can sync your Shopify account with 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 currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar determines your tax.

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