Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can assist you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Sales In Interstate Commerce
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one place. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle these. It is up to you and your staff to complete the process on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows you to see the overall sales taxes within your company. It is also possible to export the information to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more information. Apart from that, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan to help you in filing and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be ideal for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for that is more than the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Sales In Interstate Commerce
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it 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 to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you live in a place with complicated tax regulations, this will surely help you wrap your head around it. TaxJar Sales In Interstate Commerce
But if handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do then you’re better off doing it by yourself.
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FAQ TaxJar Sales In Interstate Commerce
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar will calculate the tax.
