Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have a background in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
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 well-known life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is the tool you require in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar With Harvest
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting software seamlessly works well along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your critical data in one location. So, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar, then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. It is up for you and your staff to complete everything in time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax to recording and processing them. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, like an inventory of your transactions, reports and the data.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. It is also possible to export your data as the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. You can look through their webinars, guides, and blog for more information. Apart from that their sales tax calculator can 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 features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing each 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. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as API integrations, team users and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar With Harvest
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to determine whether the software is the right choice for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize Here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can also help you meet your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar With Harvest
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.
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FAQ TaxJar With Harvest
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together 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 cannot convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar determines the tax.
