Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to employ an accountant, performing the task on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. While this is a long read it is possible to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar 37206 Sales TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather information from multiple sources and then organize it on a single platform. All you need to do is connect TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income TaxJar will train you on managing these. However, it will be up to you and your team to complete everything in time. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if you do not include this feature in 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 compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports and the data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard can also allow you to see the total sales tax for your business. You can also export your data to the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it to run centralized reports.
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 hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but all things connected to sales tax. You can look through their webinars, guides, and blog for more info. Apart from that their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the best plan for those who need assistance in filing and reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small business manager, the plan will be perfect for you. It may not have all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something a bit more than just the standard features Professional could be the one for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the amount that the Premium plan will cost you. 37206 Sales TaxJar
However, they did mention that this plan is customized for every user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for 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.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this can definitely help you get your mind around it. 37206 Sales TaxJar
If handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do then you’re better to do it by yourself.
FAQ 37206 Sales TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link 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 currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into US$ before TaxJar can calculate the tax.