Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, doing it on yourself can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Volusion
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in 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 can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must 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 metrics in one spot. So, there’s no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. For our review we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to handle these. However, it will be up for you and your staff to finish the tax returns in time. TaxJar is there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including an inventory of your transactions, reports, as well as information.
The best part about this feature is that it lets you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. Additionally, you can export the information in the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating costs.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller company proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to go for an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team users, and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Volusion
However, they did mention that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple 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 applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you do, then you should try this.
Not only will it aid in tracking your revenue and products It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you save more time while keeping the track of each deadline and requirement you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Volusion
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Volusion
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar can calculate the tax.
