Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, making it yourself can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can benefit 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 to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Import
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather data from different channels and organize it into a single platform. All you have to do is connect TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your staff to complete the process on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via 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 and information.
The best part about this feature is that they allow you to update automatically every day. They not only let to know the amount you’ve collected, but they also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes for your business. It is also possible to export the information as CSV format. CSV file in case you require it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their guides, webinars, and blog for more info. In addition their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to go for the Premium plan instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Import
But they did state that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has 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
- 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
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Import
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do, you might be better off doing it on your own.
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FAQ TaxJar Import
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to US$ before TaxJar will calculate your tax.
