Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant performing the task on your own could be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? What Is An Fba State In TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure you have a tax accounting system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. That way, there’s no requirement to collect data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage these. But, it is up to you and your team members to finish the tax returns within the timeframe. TaxJar is there to guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you need, such as the list of transactions, reports and information.
The greatest benefit of this feature is that it lets you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax in your business. You can also export your data as the form of a CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. Check out their webinars, guides and blog for more information. Apart from that, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the basics Professional could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team members and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. What Is An Fba State In TaxJar
However, they did say 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 right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
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 sounds like what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around it. What Is An Fba State In TaxJar
If handling your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do then you’re better off doing it on your own.
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FAQ What Is An Fba State In TaxJar
What are the areas in which TaxJar provide 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 connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar determines the tax.
