Taxes have always been among 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 accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
So what can we do ?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to determine if TaxJar is what you need in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Not Importing Paypal Sales Tax
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting platform seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is connect TaxJar and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on managing these. However, it will be up to you and your staff to finish the tax returns on time. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you 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 will be automated, from calculating taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is not included in the plan you select.
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 combined into one dashboard using this platform. From there you and your team will have access to everything you require, including the list of transactions, reports, as well as information.
The best part about this feature is that they allow you to update automatically every day. They not only let you know how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. It is also possible to export the information in a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides or blog posts for additional info. Additionally, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important 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. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program should be ideal for you. It might not include all the features of TaxJar, but it has 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.
If you’re looking to get that is more than the basic features Professional may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to opt for an upgrade instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Not Importing Paypal Sales Tax
However, they did say that this plan is customized to each user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to see if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- 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
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Not Importing Paypal Sales Tax
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Not Importing Paypal Sales Tax
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar will calculate your tax.