Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to engage an accountant doing it on yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar States Nexus
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. So, there’s no need to collect data from different channels and organize it into a single platform. All you need to do is connect TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for the filing of income tax returns, the team will instruct you on how to handle the tax returns. It is up to you and your staff to complete the process in time. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. Additionally, you can export your data to CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have available for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for that is more than the standard features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to opt for premium plans instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrations, team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar States Nexus
However, they did say that this plan is customized to each user. The cost of the plan will be different in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar States Nexus
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do then you’re better off doing it by yourself.
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FAQ TaxJar States Nexus
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar determines your tax.
