Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to hire an accountant, making it your own can be risky. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. While this is lengthy 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 provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Sales Tax, Pdf
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your critical data in one location. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. In this review, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to finish the tax returns on time. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. They not only let you know how much you’ve earned, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the overall sales taxes in your business. It is also possible to export the data as CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but all things that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that their sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get that is more than the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Sales Tax, Pdf
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. 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. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products It can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you reduce time and keep track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Sales Tax, Pdf
If handling taxes is easy, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Sales Tax, Pdf
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines the tax.
