Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on your own can be dangerous. If you overlook one thing, you might have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do ?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is lengthy, you should be able to determine if TaxJar is what you need today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Integrations With Stripe
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar, and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up for you and your team members to complete the process within the timeframe. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you require, including an inventory of your transactions, reports, as well as information.
The best part about this feature is that it lets you to automatically update every day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the sales tax totals for your business. Additionally, you can export your data in CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides and blog for more details. Additionally, their sales tax calculator is 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 determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be perfect for you. It might not include 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 features.
Professional
If you’re looking for something different from the basic features and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to choose premium plans instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Integrations With Stripe
However, they did say that the plan is custom-made for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- Has 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
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business, but it can also help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar Integrations With Stripe
However, if managing your taxes is straightforward and straightforward, 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. In addition, if you find the entire procedure easy to complete then you’re better off doing it on your own.
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FAQ TaxJar Integrations With Stripe
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar will calculate the tax.
