Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on your own can be risky. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar No Longer Selling
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software is compatible with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your key data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. For our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage them. It is up for you and your team to finish the tax returns on time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you would 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 taxes on sales through recording, and then processing it. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, like a list of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the overall sales taxes for your business. You can also export the data as a CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides and blog for more details. In addition their sales tax calculator is helpful if you’re planning on 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. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal how much the Premium plan costs you. TaxJar No Longer Selling
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online 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.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not 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 laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can help you meet your deadlines. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar No Longer Selling
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar No Longer Selling
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar can calculate your tax.
