Taxes have always been one of the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have enough money to engage an accountant performing the task on your own can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. While this is a long read it is possible to assess whether TaxJar is the tool you require right now.
Are you looking video streaming instead? 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 let’s get right into it.
What exactly is TaxJar? TaxJar Shipping Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate 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 your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one place. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to handle these. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with 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 require, including an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the total sales tax within your company. Additionally, you can export the information as a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better 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, and blog for more information. Apart from that their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business manager, the plan could be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the standard features, 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.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to go for an upgrade instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Shipping Tax
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to 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 is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only will it help you track your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Shipping Tax
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar Shipping Tax
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.
