Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have enough money to employ an accountant, doing it on yourself can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can assist you. While this is a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? Zbrains And TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting system is compatible with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. It is up for you and your staff to complete everything in time. TaxJar is only there to guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through 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 not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow you to see the overall sales taxes within your company. Additionally, you can export the information to a CSV file in case you require it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also all things connected to sales tax. Check out their guides, webinars, or blog posts for additional details. Additionally the sales tax calculator can be beneficial when you’re planning to 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 features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller business proprietor, then this program should be ideal for you. It may not have all the features of TaxJar but it comes with all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to go for premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. Zbrains And TaxJar
However, they did say that this plan is customized to each user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your head around the subject. Zbrains And TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete, you might be better in doing it all on your own.
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FAQ Zbrains And TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate the tax.
