Taxes are always one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to hire an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skipping 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?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Although this is quite lengthy it is possible to gauge whether TaxJar is what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Sales From Locations Outside
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your most important data in one location. This means that there is no need to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage these. It is up to you and your staff to finish the tax returns in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist 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 can access everything you require, including a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows you to fully view the overall sales taxes for your business. It is also possible to export the data as the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also for anything related to sales tax. You can check out 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.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan should be ideal for you. It may not offer all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to go for premium plans instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team users and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Sales From Locations Outside
However, they did say that this plan is tailor-fit for each user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything 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.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has 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.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Sales From Locations Outside
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Sales From Locations Outside
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar determines the tax.