Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. While this is an extensive read it is possible to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Linkeded
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar is used 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 owners of online businesses to keep everything organized and straightforward. 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 want to check is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. That way, there’s no requirement to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns TaxJar will train you on how to handle them. However, it will be up to you and your staff to finish the tax returns on time. TaxJar is only there to guide you on 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 is automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. It is also possible to export the data to the form of a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of 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 function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more information. Apart from that their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan could be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team users as well as AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Linkeded
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy 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
- AutoFile limit is based on 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 laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you get more done while keeping track of every deadline or requirement you need to meet. If you live in an area with complex tax laws, this can certainly help you to get your mind around it. TaxJar Linkeded
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Linkeded
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.
