Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to employ an accountant, making it yourself can be risky. If you make a mistake, you might have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can always make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Although this is quite an extensive read it is possible to determine if TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar Remove Shipping Deduction
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re 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 companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage them. It is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through 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, and information.
The best part about this feature is that it allows you to automatically update every day. They not only let you keep track of how much you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. Additionally, you can export the information to CSV format. CSV file if you need it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides, and blog for more info. Apart from that, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to go for the Premium plan instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Remove Shipping Deduction
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to save more time while keeping track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this will definitely help you get your head around it. TaxJar Remove Shipping Deduction
If handling your taxes is straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar Remove Shipping Deduction
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar will calculate the tax.