Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
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 how it can help you. Even though this is a long read it is possible to assess whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Redbubble Society6 Fineartamerica
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to gather information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to manage the tax returns. However, it will be up to you and your team members to complete everything in time. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there, you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help you know how much you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. You can also export the data to CSV format. CSV file if you need it in your process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more details. Apart from that the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business owner, this plan could be perfect for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the standard features and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Redbubble Society6 Fineartamerica
However, they did mention that the plan is custom-made for each user. So the costs will vary depending on what you need for your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you ought to try this.
Not only can it help you track the sales and profits of your business however, it will help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar Redbubble Society6 Fineartamerica
But if handling taxes is easy, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track 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 Redbubble Society6 Fineartamerica
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.
