Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to hire an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar? TaxJar Nexus In Ohio
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data from different channels and sort it into one platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to handle them. It is up for you and your staff to complete everything in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize 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 need, like an inventory of your transactions, reports, as well as information.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax for your business. Additionally, you can export the information to the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional info. Apart from that, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one 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 every one of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to opt for premium plans instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrations, team users as well as AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Nexus In Ohio
However, they did say that this plan is customized to each user. So the costs will vary depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only can it help you track your products and revenue however, it will assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this can certainly help you to get your head around it. TaxJar Nexus In Ohio
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ TaxJar Nexus In Ohio
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect 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 does not convert currencies. The transactions are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.
