Taxes are always 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 work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford enough money to engage an accountant making it your own could be dangerous. If you make a mistake, you might have to redo things again!
Most people want to skip 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 popular life-saving device and how it can assist you. While this is lengthy, you should be able to determine if TaxJar is what you need today.
Prefer video streaming instead? 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, let’s dive right in.
What exactly is TaxJar? TaxJar Steps
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. So, there’s no need to gather information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to manage these. It is up to you and your team to complete everything within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports and the data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export your data to a CSV file if you need it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more information. In addition their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan to help you with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan might be the right 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 every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to opt for the Premium plan instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Steps
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. To sum it all up, here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products however, it will also help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Steps
If handling your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ TaxJar Steps
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines the tax.
