Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, making it your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Sales Tax Nexus
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to 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 your sales taxes. It simplifies the processes that 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 companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting software seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to manage them. But, it is up for you and your staff to complete the process in time. TaxJar is there to provide guidance on what you have 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 all forms by hand. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports, and the data.
The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only will they let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals within your company. Additionally, you can export your data as CSV format. CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. 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 more effectively. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator can 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. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be ideal for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support, 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 company, you may need to choose an upgrade instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Sales Tax Nexus
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to see if the platform is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
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 this sounds like the way you’re doing, then you ought to try this.
Not only will it aid in tracking your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Sales Tax Nexus
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar Sales Tax Nexus
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.
