What Is A TaxJar Category

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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 any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you have to do it all over again!

Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.

So what can we do about it?

It is always possible to simplify our lives by using tools like TaxJar.

Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is what you need today.

Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.

But for those who prefer to read, then let’s get right into it.

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What is TaxJar? What Is A TaxJar Category

Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use 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 can be completed in a matter of just a few minutes.

TaxJar has been utilized 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 extensively used by online business owners to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.

What Is A TaxJar Category

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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 using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.

TaxJar allows you to show your critical metrics in one spot. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar it will handle all the rest.

Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.

If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to manage these. But, it is up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you should do but not handle it.

If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be 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 choose.

Sales Tax Reports

As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, such as an inventory of your transactions, reports and data.

The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.

Their dashboard also allows users to view in detail the overall sales taxes within your company. You can also export your data in the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it for central reporting.

Training and Streamlining

TaxJar helps you organize and keep on top of all the sales avenues you use. That means you won’t have to search for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.

Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operational costs.

What’s more is that TaxJar offers training and tutorials not only on their platform, but for anything related to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally the sales tax calculator is useful if you’re planning to complete everything yourself.

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How much does TaxJar cost?

We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, 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 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 starter plan, you have access to their AI tax tips.

If you’re a smaller company owner, this plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.

In addition, you can reach 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 a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.

What is the difference from the starter plan?

In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.

Premium

If you run a large business, you might need to choose an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data API integrationsfor team members as well as AutoFiles.

They also have a team dedicated for managing the account. But, they don’t divulge how much the Premium plan costs you. What Is A TaxJar Category

However, they did mention that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.

Free Trial

Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to determine whether the software is the right choice for you.

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Pros and Cons

After we’ve gone over everything you must be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.

Pros

  • Does the plan include 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 simple to navigate
  • The company offers a 30-day trial for free.
  • It can 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.
  • It is important for owners and accountants to check local legislation

The Final Verdict

With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.

Not only can it assist you in keeping track of the sales and profits of your business It can help you meet your deadlines. It’s also an excellent platform for an accountant since they have a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.

Utilizing TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around it. What Is A TaxJar Category

But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.

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FAQ What Is A TaxJar Category

Which areas does TaxJar provide API assistance?

TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.

Do I have the ability to connect Shopify with TaxJar?

Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.

Are there any ways to exchange one kind of currency with TaxJar?

Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar determines the tax.

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