Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant performing the task on your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But since it’s required, we have no choice.
What can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is an extensive read, you should be able to gauge whether TaxJar is what you need in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Tennessee
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your most important data in one location. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to handle the tax returns. It is up for you and your team to complete everything in time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, like the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes in your business. It is also possible to export your data as CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides as well as their blog to find more details. Additionally their sales tax calculator can be useful if you’re planning to do everything on your own.
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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’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans including 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 in filing and reporting. It comes with the tax on sales, four autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
You can also 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 to get a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to go for premium plans instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Tennessee
However, they did say that this plan is customized to each user. So the costs will vary according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue however, it will help you meet the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Tennessee
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, 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 Tennessee
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines your tax.
