Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant doing it on your own could be risky. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. Even though this is an extensive read, you should be able to assess whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? Use TaxJar Arizona
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure 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 most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to manage the tax returns. However, it will be up for you and your team to complete everything in time. TaxJar will only provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports, as well as information.
The best part about this option is the fact that they allow you to automatically update every day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals for your business. You can also 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 your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just on their platform, but everything that has to do with sales tax. Check out their guides, webinars, and blog for more info. Apart from that their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something that is more than the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, API integrations, team members as well as AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal the amount that the Premium plan costs you. Use TaxJar Arizona
However, they did say that the plan is custom-made for every user. So the costs will vary depending on what you need to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- Allows you to track multiple 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 for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you should try this.
Not only will it aid in tracking your products and revenue, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around the subject. Use TaxJar Arizona
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ Use TaxJar Arizona
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines your tax.
