Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. While this is a long read, you should be able to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Naics Codes
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales taxes. 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 a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at 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 make sure you have a tax accounting software seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through their 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 the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on managing them. It is up for you and your staff to finish the tax returns on time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online 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, such as the list of transactions, reports and information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. They not only let you know how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. You can also export your data to a CSV file in case you require it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition their sales tax calculator should be 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 set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale business owner, this plan could be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Naics Codes
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
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 considering other options, they have 30 days of free trial. This should be enough time to gauge whether the software is an excellent fit 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, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- You can track several 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 multiple sales channels and uses many 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 It can help you meet the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your mind around it. TaxJar Naics Codes
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Naics Codes
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar determines your tax.
