Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to employ an accountant, making it your own could be dangerous. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Nj Sales Tax
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In our review we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns The team will guide you on managing the tax returns. It is up to you and your staff to complete the process within the timeframe. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve earned, but they also help you keep track of when the next payments are due.
The dashboard allows you to see the total sales tax for your business. It is also possible to export the data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides or blog posts for additional details. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business manager, the plan should be ideal for you. It may not have all of TaxJar’s features but it comes with 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 tools.
Professional
If you’re looking for something a bit more than just the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
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.
Premium
If you have a massive company, you may need to go for premium plans instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Nj Sales Tax
But they did state that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is the right choice for you.
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Pros and Cons
After we’ve gone over everything you need to 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 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 on the internet for 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 applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will help you meet the deadlines you set. It is also a great option for accountants as they provide the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Nj Sales Tax
If handling taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
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FAQ TaxJar Nj Sales Tax
Which areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar will calculate your tax.
