Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant making it your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Tax Rate Zipcode Accuracy
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on managing these. It is up to you and your staff to complete everything in time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, such as the list of transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. It is also possible to export your data as the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things connected to sales tax. Check out their guides, webinars, or blog posts for additional info. In addition, 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 determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. 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. The company claims that it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small business owner, this plan should be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to opt for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrations, team members and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Tax Rate Zipcode Accuracy
But they did state that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This 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 advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can 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
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only can it help you track the sales and profits of your business however, it will assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this can definitely help you get your head around it. TaxJar Tax Rate Zipcode Accuracy
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete then you’re better off doing it by yourself.
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FAQ TaxJar Tax Rate Zipcode Accuracy
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together 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 with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.
