Taxes have always been 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 background in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, performing the task on your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, 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 life-saving tool and explain how it can benefit you. While this is an extensive read it is possible to assess whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Not Calculating Tax
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. So, there’s no need to gather data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes by hand or using the AutoFile feature. For this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income, the team will instruct you on how to manage these. However, it will be up to you and your team to finish the tax returns on time. TaxJar will only 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 for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, like an inventory of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the overall sales taxes in your business. Additionally, you can export the information as the form of a CSV file if you need it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their guides, webinars, and blog for more information. Apart from that their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller business owner, this plan could be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get that is more than the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to opt for premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrations, team members, and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Not Calculating Tax
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can help you save more time while keeping track of every deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can surely help you wrap your mind around it. TaxJar Not Calculating Tax
If handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ TaxJar Not Calculating Tax
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.
