Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have the funds to employ an accountant, making it your own can be dangerous. If you overlook one thing it could mean you have to redo things again!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? Whose Tax Exempt
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing these. It is up to you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you should do , but not to 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 all forms by hand. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. They not only let to know the amount 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 overall sales taxes in your business. It is also possible to export the information in CSV format. CSV file if you need it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay 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 all things related to sales tax. You can look through their webinars, guides, or blog posts for additional information. Additionally the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the basic features Professional could be the one for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to 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.
If you own a huge business, you might need to choose premium plans instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan costs you. Whose Tax Exempt
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to determine if this service 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 a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If that’s what you do, then you should try this.
Not only can it help you track your revenue and products however, it will assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around the subject. Whose Tax Exempt
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Whose Tax Exempt
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar will calculate your tax.