Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can benefit you. Although this is quite a long read it is possible to assess whether TaxJar is exactly what you need in the present.
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, then we’ll dive right into.
What exactly is TaxJar? Where Is Fba Lga6 TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. This means that there is no need to gather information from multiple sources and sort it into one platform. All you have to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to submit their sales tax manually or through their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing them. It is up to you and your staff to complete the process in time. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you require, including an inventory of your transactions, reports and information.
The best part about this option is the fact that it allows you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the sales tax totals within your company. You can also export your data to the form of a CSV file if you need it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more details. Additionally the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and 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 business manager, the plan should be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to opt for an upgrade instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Where Is Fba Lga6 TaxJar
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around it. Where Is Fba Lga6 TaxJar
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ Where Is Fba Lga6 TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync 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 does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines your tax.