Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience 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 funds to hire an accountant, making it your own could be dangerous. If you overlook one thing, you might have to redo things again!
Most people want 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 life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need today.
Prefer to watch videos 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, we’ll dive right into.
What is TaxJar TaxJar New York Cities Counties
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting system perfectly integrates with your sales channel. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. So, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to handle these. It is up to you and your team to complete the process within the timeframe. TaxJar is only there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales taxes in order to record and process them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you need, like a list of your transactions, reports and the data.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. Additionally, you can export the information to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. You can look through their webinars, guides, or blog posts for additional 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 set your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company owner, this plan should be ideal for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something different from the basic features Professional may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large company, you may need to opt for an upgrade instead. It includes all of the features needed 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 team dedicated for managing the account. But, they don’t divulge how much the Premium plan costs you. TaxJar New York Cities Counties
But they did state that this plan is customized for every user. The cost of the plan will be different according to what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access 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 down, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to help you track your revenue and products It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they have a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar New York Cities Counties
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do then you’re better in doing it all by yourself.
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FAQ TaxJar New York Cities Counties
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar determines your tax.
