Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to employ an accountant, doing it on yourself can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Even though this is lengthy, you should be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Origin Vs Destination
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For our review we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns The team will guide you on managing the tax returns. But, it is up to you and your staff to complete everything in time. TaxJar will only help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes to recording and processing them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the overall sales taxes in your business. Additionally, you can export the information in the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials not only on their platform, but for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more details. In addition their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans including 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 sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team members and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Origin Vs Destination
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your company.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are 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 laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can help you meet the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around the subject. TaxJar Origin Vs Destination
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Origin Vs Destination
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar determines the tax.
