Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant performing the task on yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is lengthy it is possible to gauge whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar How To Much To Charge For Sales Tax
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax platform is compatible along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one place. So, there’s no need to collect data from different channels and sort it into one platform. All you need to do is connect TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax either manually or via TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. It is up to you and your team members to complete the process in time. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you require, including the list of transactions, reports, as well as data.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. They not only let you know how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. You can also export the data as CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. You can look through their webinars, guides and blog for more details. In addition, their sales tax calculator is beneficial when 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 determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company manager, the plan will be perfect for you. It might not include all the features of TaxJar, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get a bit more than just the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to accessing all of the 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. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrations, team users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar How To Much To Charge For Sales Tax
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. It is also a great platform for an accountant since they have tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar How To Much To Charge For Sales Tax
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar How To Much To Charge For Sales Tax
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar can calculate the tax.
