Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on yourself can 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, we have no choice.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Install
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into 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 system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. This means that there is no need to gather information from multiple sources and organize it into a single platform. All you need to do is connect TaxJar and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. However, it will be up to you and your staff to complete the process in time. TaxJar is there to help you understand what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to everything you need, such as an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export your data to the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything that has to do with sales tax. Check out their webinars, guides, or blog posts for additional details. 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 understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach their customer support via 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 basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
In addition to having access to all of the 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. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations, API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Install
But they did state that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to determine whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by 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 recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Install
But if handling your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ TaxJar Install
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar determines your tax.
