Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Sales Tax Exemption Form
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system 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 final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For our review we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to handle the tax returns. However, it will be up to you and your team members to complete the process in time. TaxJar will only provide guidance on what you need to do but not handle it.
If you would 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. With this feature, everything will be automated, from calculating taxes on sales to recording and processing them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax within your company. You can also export the information in a CSV file if you need it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
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 in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition, their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be ideal for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to opt for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, API integrationsfor team members, and AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Sales Tax Exemption Form
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products It can also help you meet your deadlines. It is also a great platform for an accountant since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Sales Tax Exemption Form
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Sales Tax Exemption Form
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar determines your tax.