Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the funds to hire an accountant, making it yourself can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
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 assist you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? TaxJar Recharge App
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across 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 only a few minutes.
TaxJar is 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 used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to collect information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. But, it is up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you have 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 all forms by hand. Through this feature, everything will be automated from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, as well as information.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. It is also possible to export the data to a CSV file if you need it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training not only on their platform, but for anything that has to do with sales tax. Check out their webinars, guides and blog for more information. Additionally, their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have 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. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for something different from the basic features Professional may be the best option for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to opt for the Premium plan instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Recharge App
However, they did mention that this plan is customized for each user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of using 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 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 can be integrated 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 valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it aid in tracking your products and revenue, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Recharge App
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do then you’re better to do it by yourself.
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FAQ TaxJar Recharge App
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.
