Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the funds to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
What is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. While this is an extensive read, you should be able to determine if TaxJar is the tool you require right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar? Tn Sales TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you need to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For our review we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on managing the tax returns. It is up to you and your staff to complete everything in time. TaxJar will only help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined 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 data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals within your company. It is also possible to export your data in CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training not only on their platform, but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more information. Apart from that their sales tax calculator can be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish 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 examine TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan should be ideal for you. It might not include all the features of TaxJar, but it has the basic features 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 something that is more than the standard features Professional may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. Tn Sales TaxJar
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ 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 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 service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can 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 be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it help you track your products and revenue It can help you meet your deadlines. It’s also an excellent platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can help you reduce time and keep track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your mind around it. Tn Sales TaxJar
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ Tn Sales TaxJar
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.
