Taxes have always been among the hardest things to do regardless of whether you’re running a 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 full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on yourself can be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is an extensive read it is possible to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Videos
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. It is up for you and your team to finish the tax returns on time. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve earned 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 in your business. Additionally, you can export your data in a CSV file if you need it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their guides, webinars, and blog for more details. In addition, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you in filing and reporting. It includes sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include 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 a bit more than just the basic features, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to go for the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Videos
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has the 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
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not 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 businesses with multiple sales channels and uses numerous platforms. If that’s what you do, then you ought to try this.
Not only can it help you track your products and revenue It can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Videos
However, if managing your taxes is straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole 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 Videos
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar determines your tax.
