Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar? Unprocessable Entity TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s explore 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 you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. So, there’s no need to collect data from different channels and sort it into one platform. All you need to do is connect TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In this review, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your staff to complete everything within the timeframe. TaxJar is there to guide you on what you should do , but not to 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 it. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to see the overall sales taxes within your company. Additionally, you can export your data in the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, and blog for more info. Apart from that, their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan should be perfect for you. It may not have 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 tools.
Professional
If you’re looking to get different from the basic features Professional might be the right one for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. Unprocessable Entity TaxJar
But they did state that the plan is custom-made for every user. The cost of the plan will be different depending on what you need 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 the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features 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
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several 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 clearly laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
Not only will it aid in tracking the sales and profits of your business It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will definitely help you get your head around the subject. Unprocessable Entity TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure simple to follow, you might be better to do it by yourself.
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FAQ Unprocessable Entity TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate the tax.
