Taxes have always been one of 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 work can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to employ an accountant, making it your own could be risky. If you overlook one thing it could mean you need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to assess whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar How To Add Sales Tax Codes
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been 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 extensively used by online business owners to keep everything neat and simple. Let’s look into their features and services.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. This means that there is no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on managing these. It is up to you and your team members to complete the process on time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the total sales tax for your business. Additionally, you can export the information to CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also everything related to sales tax. Check out their webinars, guides or blog posts for additional info. Apart from that the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan could be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to go for the Premium plan instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrationsfor team users, and AutoFiles.
There is also a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar How To Add Sales Tax Codes
But they did state that the plan is custom-made for every user. The cost of the plan will be different 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 looking into other options, they have 30 days of free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to 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 certainly help you to get your mind around it. TaxJar How To Add Sales Tax Codes
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete, you might be better to do it on your own.
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FAQ TaxJar How To Add Sales Tax Codes
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate 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 USUSD prior to when TaxJar will calculate the tax.
