Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have enough money to engage an accountant doing it on yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Even though this is lengthy, you should be able to determine if TaxJar is the tool you require in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Hotjar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with 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 keep everything 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 need to ensure is that your accounting tax software is compatible with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, and information.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals in your business. Additionally, you can export your data to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar offers training and tutorials not only on their platform, but everything connected to sales tax. Check out their webinars, guides or blog posts for additional info. In addition, their sales tax calculator is helpful if you’re planning on 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. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
So how different is it 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 the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Hotjar
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar to run your business.
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.
- Support service team
- The dashboard is easy 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Hotjar
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Hotjar
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar determines the tax.
