Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, making it your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. Although this is quite a long read it is possible to determine if TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Promo Code
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax system is compatible along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you need to do is to integrate TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. It is up to you and your team to finish the tax returns on time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes to recording and processing them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you require, including an inventory of your transactions, reports, as well as information.
The best part about this feature is that they allow you to automatically update every day. Not only can they help you know how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes in your business. You can also export the data in CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things related to sales tax. Check out their webinars, guides, or blog posts for additional information. Apart from that their sales tax calculator can be beneficial when 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 establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company proprietor, then this program should be perfect for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also have access to 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 starts at $99, but you can increase it by adding custom features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team users and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Promo Code
But they did state that the plan is custom-made for each user. So the costs will vary according to what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still looking into various options, they provide a 30-day 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
We’ve covered everything you need to 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 the use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Promo Code
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the whole process easy to do then you’re better to do it by yourself.
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FAQ TaxJar Promo Code
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect 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 cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.
