Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant making it your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Although this is quite lengthy it is possible to determine if TaxJar is what you need today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Response Error: 422 Unprocessable Entity
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. So, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is connect TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes either manually or via the 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 of your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales in order to record and process it. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, like a list of your transactions, reports, and information.
The greatest benefit of this feature is that it allows you to update your account automatically each day. Not only can they help you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. You can also export your data to CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan will be perfect for you. It might not include all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for something that is more than the standard features Professional may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrationsfor team users, and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Response Error: 422 Unprocessable Entity
However, they did mention that this plan is customized for every user. So the costs will vary according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one 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 service is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s 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 however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you get more done while keeping the track of each 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 Response Error: 422 Unprocessable Entity
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow, you might be better in doing it all on your own.
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FAQ TaxJar Response Error: 422 Unprocessable Entity
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate your tax.
