TaxJar Reports For State Filings

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Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant performing the task on your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!

Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.

So , what is the best way to deal with it?

We can simplify our lives with tools such as TaxJar.

We’ll look at this popular life-saving device and how it can assist you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require today.

Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.

For those who like to read, then we’ll dive right into.

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What exactly is TaxJar? TaxJar Reports For State Filings

Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.

TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.

How can this help you?

TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into their features and services.

TaxJar Reports For State Filings

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Features and services

Integration

One of the most important things you’ll want to check you have a tax accounting platform is compatible along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.

TaxJar lets you display your critical data in one location. That way, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar, it will handle the rest.

In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll look into both.

If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing these. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you should do , but not to handle it.

If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.

Sales Tax Reports

As we mentioned it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including the list of transactions, reports, as well as data.

The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help to know the amount you’ve collected, but they also help you track when your following payments are due.

The dashboard allows you to fully view the sales tax totals within your company. Additionally, you can export your data in a CSV file, if you want to use it for your financial planning and accounting processes or if you require it to run centralized reports.

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 scramble for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will make them 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 available for other operating expenses.

What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator should be helpful if you’re planning on complete everything yourself.

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How much does TaxJar cost?

We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. At present, 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 effective plan to help you in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.

If you’re a small company proprietor, then this program could be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.

Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.

Professional

If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.

So how different is it from the starter plan?

In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.

Premium

If you run a large business, you might need to opt for the Premium plan instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.

They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Reports For State Filings

However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require to run your business.

Free Trial

Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to determine whether the service is the right choice for you.

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Pros and Cons

Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar to run your business.

Pros

  • Has a Tax Advisor option for some plans
  • AutoFile features help save time
  • Available in most USA states
  • Offers on the internet for sales tax calculator
  • Support Service Team
  • The dashboard is simple to navigate
  • Offers a 30-day free trial
  • It is able to be integrated with other platforms
  • You can track several 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 applicable for USA customers.
  • Needs accountants and owners to recheck local legislations

The Final Verdict

With everything clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.

Not only will it aid in tracking the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.

The use of TaxJar will help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Reports For State Filings

However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.

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FAQ TaxJar Reports For State Filings

Which areas does TaxJar offer API support?

TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.

Can I integrate Shopify into TaxJar?

Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.

Are there any ways to exchange one kind of currency using TaxJar?

Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines the tax.

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