Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant making it your own can be risky. If you miss one detail it could mean you need to repeat the process!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. While this is an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar Virginia
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. 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 tax requirements. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar is used in various industries like 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 make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to manage these. It is up to you and your team members to finish the tax returns in time. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and the data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. It is also possible to export the data in the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of 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 help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform but for anything related to sales tax. You can check out their webinars, guides as well as their blog to find more info. Apart from that their sales tax calculator should be helpful if you’re planning on 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 your business. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan will be perfect for you. It might not include all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to choose premium plans instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Virginia
However, they did mention that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is the right choice for you.
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Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it aid in tracking your products and revenue It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Virginia
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Virginia
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar determines the tax.
