Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, doing it on your own can be risky. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
So what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. While this is lengthy it is possible to gauge whether TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Nexsus
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar is 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 widely used by online business owners to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. So, there’s no need to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage the tax returns. But, it is up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating sales tax to recording and processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you require, including a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals in your business. It is also possible to export your data in CSV format. CSV file if you need it for your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides, and blog for more information. Additionally the sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the basic features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for an upgrade instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team members, and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Nexsus
But they did state that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your company.
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 other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
- Does the plan include a 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.
- 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If that sounds like what you do, then you should try this.
It’s not just a way to help you track your revenue and products It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
The use of TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Nexsus
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire process easy to do, you might be better off doing it by yourself.
FAQ TaxJar Nexsus
What are the areas in which TaxJar offer 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 integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar will calculate your tax.