Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to hire an accountant, doing it on yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. While this is lengthy, you should be able to gauge whether TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar TaxJar Mock
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. However, it will be up for you and your team to complete the process in time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. It is also possible to export your data in the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to scramble for your documents whenever you’re in a pinch. Even when you already have your accountant, this function can help them be 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 to cover other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform but everything connected to sales tax. You can look through their guides, webinars, and blog for more information. In addition, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. 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 Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge business, you might need to choose premium plans instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Mock
However, they did say that this plan is customized to each user. The cost of the plan will be different 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 various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- Allows you to track 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 valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Mock
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do then you’re better off doing it by yourself.
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FAQ TaxJar Mock
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.
