Taxes are always one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant performing the task on your own could be risky. If you overlook one thing and you don’t know it, you may 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 is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Even though this is lengthy it is possible to determine if TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar Registered Aent
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. 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 critical data in one location. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. For our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your staff to complete the process within the timeframe. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals for your business. Additionally, you can export the data to a CSV file in case you require it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their guides, webinars, and blog for more information. Additionally, their sales tax calculator is 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 offer superb features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business proprietor, then this program will be perfect for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking to get that is more than the standard features Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Registered Aent
However, they did say that this plan is tailor-fit for each user. So the costs will vary depending on what you need for 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 considering different options, they offer 30 days of free trial. 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
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to 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.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. It is also a great platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar Registered Aent
But if handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar Registered Aent
What are the areas in which TaxJar provide API support?
TaxJar currently supports 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 for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar determines the tax.
