Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the funds to engage an accountant making it your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. While this is an extensive read it is possible to determine if TaxJar is what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Sale Tax Providers Services Fba
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s explore their features and services.
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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 with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is only 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 won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only will they let you know how much you’ve earned however, they can also help you determine when your next payments are due.
The dashboard allows users to view in detail the overall sales taxes for your business. Additionally, you can export the data in CSV format. CSV file if you need it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally the sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine 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 look into TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data, API integrations, team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Sale Tax Providers Services Fba
However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Has the 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 possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
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 the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Sale Tax Providers Services Fba
However, if managing taxes is easy and straightforward, then TaxJar might not be a good investment. If you only have 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 procedure easy to complete, you might be better to do it by yourself.
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FAQ TaxJar Sale Tax Providers Services Fba
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar can calculate your tax.
