Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have enough money to engage an accountant making it your own could be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. Although this is quite a long read, you should be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Issues
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting platform is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important data in one location. This means that there is no need to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up to you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you’d 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 is 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 chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, and data.
The most appealing aspect of this feature is that it allows you to automatically update every day. They not only let you know how much you’ve accumulated, but they also help you determine when your next payment is due.
The dashboard allows you to see the overall sales taxes in your business. It is also possible to export the data in CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
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 search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides or blog posts for additional details. Apart from that 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 know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and 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 should be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up 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 options, you also have access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Issues
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to see whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will assist you in meeting your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Issues
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete then you’re better in doing it all on your own.
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FAQ TaxJar Issues
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar determines your tax.
