Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to hire an accountant, performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Utah Sales Tax Fba Setting
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. 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 need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For our review we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up for you and your staff to complete the process on time. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing them. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as a list of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the sales tax totals for your business. It is also possible to export the information to a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but all things connected to sales tax. You can check out their webinars, guides and blog for more details. Additionally their sales tax calculator should be beneficial when 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 set your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program could be ideal for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also 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 comes with all the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Utah Sales Tax Fba Setting
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the 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. This should be enough time to determine whether the service is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several 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 applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can also help you meet the deadlines you set. It is also a great option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Utah Sales Tax Fba Setting
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
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FAQ TaxJar Utah Sales Tax Fba Setting
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate the tax.
