Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, doing it on yourself can be risky. If you make a mistake, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Sales Tax Calculator
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to collect data from different channels and sort it into one platform. All you need to do is integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to handle these. But, it is up to you and your team members to complete everything in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like the list of transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let to know the amount you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the sales tax totals within your company. It is also possible to export the data to the form of a CSV file in case you require it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the basic features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for an upgrade instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Sales Tax Calculator
But they did state that this plan is customized to each user. So the costs will vary in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple 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 valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will surely help you wrap your head around the subject. TaxJar Sales Tax Calculator
If handling taxes is easy, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete then you’re better in doing it all by yourself.
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FAQ TaxJar Sales Tax Calculator
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 incorporate 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 doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar will calculate the tax.
