Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to engage an accountant making it yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. While this is lengthy but you’ll be able to gauge whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Non-Exempt Sales No Tax Collected
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage these. But, it is up for you and your team to complete the process on time. TaxJar is 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 for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing it. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports, and the data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. Additionally, you can export the data in CSV format. CSV file in case you require it for your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. You can check out their webinars, guides, as well as their blog to find more details. Apart from that, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They say 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. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program should be ideal for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the basics, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support 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 opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrationsfor team users and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Non-Exempt Sales No Tax Collected
However, they did mention that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize, here are the pros and cons of using TaxJar for your business.
Pros
- 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 Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by 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 laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Non-Exempt Sales No Tax Collected
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow, you might be better to do it by yourself.
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FAQ TaxJar Non-Exempt Sales No Tax Collected
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.
