Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to hire an accountant, performing the task on your own can be risky. If you make a mistake it could mean you have to redo things again!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is an extensive 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 TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? Az Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. That way, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns, the team will instruct you on managing these. But, it is up for you and your team to finish the tax returns within the timeframe. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like an inventory of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. Apart from that, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. 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. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration features.
If you’re looking to get that is more than the basic features Professional might be the right one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to choose the Premium plan instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Az Sales Tax TaxJar
But they did state that this plan is tailor-fit for each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. Az Sales Tax TaxJar
If handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow, you might be better off doing it by yourself.
FAQ Az Sales Tax TaxJar
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar determines the tax.