Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant making it your own could be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
What can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Take a look at 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, then let’s dive right in.
What is TaxJar TaxJar With Whmcs
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. 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 ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting platform perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage the tax returns. However, it will be up to you and your team members to complete everything in time. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your staff can access everything you require, including a list of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let you know how much you’ve accumulated, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax for your business. It is also possible to export your data to the form of a CSV file in case you require it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Additionally their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It 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 starter plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan could be perfect for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for that is more than the basics Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to opt for premium plans instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrations, team members and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar With Whmcs
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 company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it 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.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then should try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you get more done while keeping track of every deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar With Whmcs
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar With Whmcs
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar determines the tax.
