Taxes have always been among the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you make a mistake, you might have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can help you. Although this is quite lengthy it is possible to assess whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Paypal Double Counting
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your key data in one location. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is integrate TaxJar and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can 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 TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up to you and your staff to complete everything on time. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as the list of transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let you know how much you’ve earned however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals for your business. It is also possible to export the data as a CSV file in case you require it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things connected to sales tax. Check out their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale business manager, the plan should be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something different from the basics Professional might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Paypal Double Counting
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
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by 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 check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it help you track your revenue and products, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Paypal Double Counting
If handling your taxes is simple, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all on your own.
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FAQ TaxJar Paypal Double Counting
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync 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 currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.
