Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to employ an accountant, making it yourself can be risky. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can assist you. While this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? Volusion TaxJar Development
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s take a look at 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 perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your critical data in one location. This means that there is no need to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on managing them. But, it is up to you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you need to 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 any forms manually. With this feature, everything will be automated, from calculating sales tax to recording and processing them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes in your business. Additionally, you can export the data in CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their guides, webinars, and blog for more information. In addition the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine 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 levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic 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.
How different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited import integrations of data API integrations, team users and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Volusion TaxJar Development
However, they did mention that this plan is customized to each user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- 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 for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. It is also a great platform for an accountant since they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this will certainly help you to get your head around the subject. Volusion TaxJar Development
If handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ Volusion TaxJar Development
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate your tax.
