Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on yourself can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Request Is It Async
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to gather information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to handle them. However, it will be up to you and your team members to finish the tax returns on time. TaxJar will only help you understand what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the total sales tax for your business. It is also possible to export the data in the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also all things connected to sales tax. You can look through their webinars, guides or blog posts for additional information. Apart from that their sales tax calculator can be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for that is more than the basics, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Request Is It Async
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several 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
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this can definitely help you get your head around it. TaxJar Request Is It Async
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ TaxJar Request Is It Async
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar determines your tax.
