Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to engage an accountant performing the task on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Although this is quite an extensive read, you should be able to assess whether TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar Supplements
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you choose 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 TaxJar will train you on how to handle these. It is up to you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you 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 through recording, and then processing them. However, there might be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. 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 everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow you to see the sales tax totals in your business. It is also possible to export your data to a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their guides, webinars, and blog for more info. Additionally the sales tax calculator is 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 establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, 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 comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be ideal for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get different from the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the basic plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to opt for premium plans instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrations, team users and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Supplements
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform 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 summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to 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 to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that’s what you do, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping the track of each deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will certainly help you to get your head around the subject. TaxJar Supplements
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
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FAQ TaxJar Supplements
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar will calculate the tax.
