Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Although this is quite a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Netsuite Integration
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. 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 key metrics in one spot. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar, then the system will do all the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For our review we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage the tax returns. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you require, including an inventory of your transactions, reports, and the data.
The greatest benefit of this feature is that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax within your company. You can also export your data to the form of a CSV file, if you want to use it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things related to sales tax. Check out their webinars, guides and blog for more info. Apart from that the sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small business owner, this plan could be ideal for you. It may not have all of TaxJar’s features, but it has the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team members and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Netsuite Integration
However, they did mention that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include a 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.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business however, it will assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Netsuite Integration
If handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar Netsuite Integration
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify 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 kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you will need to convert it to US$ before TaxJar can calculate your tax.
