Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the funds to employ an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite a long read it is possible to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? TaxJar Shipping
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to manage these. It is up for you and your team members to complete everything on time. TaxJar is there to guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating taxes on sales in order to record and process it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and data.
The best part about this feature is that it allows you to automatically update every day. Not only will they let to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals within your company. Additionally, you can export the information to CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform but all things that has to do with sales tax. You can look through their webinars, guides, and blog for more details. Apart from that their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan should be ideal for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get a bit more than just the basics and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Shipping
But they did state that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to see whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Shipping
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow, you might be better to do it on your own.
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FAQ TaxJar Shipping
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar determines the tax.
