Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. If you don’t have enough money to hire an accountant, performing the task on your own can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Although this is quite a long read, you should be able to assess whether TaxJar is what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar List Of Average Sales Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important data in one location. So, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is integrate TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. However, it will be up for you and your team members to complete everything within the timeframe. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. 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, like an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only can they help you know how much you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. It is also possible to export the information to CSV format. CSV file if you need it to aid in accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but for anything connected to sales tax. You can check out their guides, webinars, and blog for more information. In addition the sales tax calculator is beneficial when 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 set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for the Premium plan instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar List Of Average Sales Tax
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need for your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
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Pros and Cons
Now that we’ve covered all you need to know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only can it help you track your revenue and products however, it will assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will surely help you wrap your head around the subject. TaxJar List Of Average Sales Tax
If handling your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better off doing it by yourself.
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FAQ TaxJar List Of Average Sales Tax
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 incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar determines your tax.
