Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need today.
Prefer video streaming instead? Watch 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 is TaxJar? TaxJar Vermont
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more 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 need to make sure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. This means that there is no need to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, it will take care of all 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 allows clients to file their sales taxes by hand or using the AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. But, it is up to you and your staff to complete everything in time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online 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 an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export the information as CSV format. CSV file, if you want to use it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more information. In addition the 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 are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller business manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking to get that is more than the basics, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to choose premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Vermont
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you should try this.
Not only can it help you track your products and revenue however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Vermont
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar Vermont
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar determines the tax.
