Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, making it your own could be risky. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. Although this is quite lengthy it is possible to assess whether TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Pdf Setting Tax
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s take a look at 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 make sure is that your accounting tax system perfectly integrates 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 be penalized for missing a single minor point.
TaxJar allows you to show your most important data in one location. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar then the system 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 clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to handle these. It is up for you and your team members to complete the process in time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease 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 can access everything you need, like the list of transactions, reports and data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the overall sales taxes in your business. You can also export your data to a CSV file in case you require 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 track of all of your sales channels. 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 accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team users and AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Pdf Setting Tax
But they did state that this plan is customized for each user. So the costs will vary according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you should try this.
Not only can it help you track the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you reduce time and keep 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 mind around it. TaxJar Pdf Setting Tax
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete then you’re better to do it on your own.
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FAQ TaxJar Pdf Setting Tax
Which areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate the tax.
