Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, doing it on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar To Brightpearl
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in 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 used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on how to handle these. But, it is up for you and your team to complete everything in time. TaxJar will only help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you require, including the list of transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update automatically every day. They not only let to know the amount you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the total sales tax for your business. It is also possible to export the data as a CSV file if you need it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also all things related to sales tax. You can check out their webinars, guides, or blog posts for additional information. In addition, their sales tax calculator should be useful if you’re planning to do everything on your own.
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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 can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small company manager, the plan should be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to opt for an upgrade instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar To Brightpearl
But they did state that the plan is custom-made for every user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you get more done while keeping on top of each deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar To Brightpearl
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar To Brightpearl
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to USdollars before TaxJar will calculate your tax.
