Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Stripe Subscriptions
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well 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 allows you to show your critical data in one location. That way, there’s no need to collect data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. For this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to handle them. But, it is up to you and your staff to finish the tax returns on time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports and data.
The best part about this option is the fact that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. Additionally, you can export the data in the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to scramble for your documents when you need them in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but for anything related to sales tax. You can look through their guides, webinars, as well as their blog to find more info. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to go for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users, and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Stripe Subscriptions
However, they did mention that this plan is tailor-fit for each user. So the costs will vary in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is the right choice for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track 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 applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar Stripe Subscriptions
However, if managing your taxes is straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete, you might be better in doing it all by yourself.
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FAQ TaxJar Stripe Subscriptions
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar will calculate your tax.
