Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Russia
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s explore their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle these. But, it is up to you and your team to complete the process in time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you’d 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 in order to record and process them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, such as a list of your transactions, reports, and information.
The best part about this option is the fact that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. It is also possible to export your data as CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. In addition, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get that is more than the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
Apart from having access to 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 advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Russia
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ according to 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 for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to see if the platform is the right choice for you.
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Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of using TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it aid in tracking your revenue and products however, it will assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around the subject. TaxJar Russia
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Russia
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate your tax.
