Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? California Sales Tax TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. 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 overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to gather information from multiple sources and organize it into one platform. All you have to do is to integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to handle them. But, it is up for you and your team members to complete the process within the timeframe. TaxJar is there to provide guidance on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales in order to record and process them. However, there might be extra fees if 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 put together into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. You can also export your data to the form of a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform but all things connected to sales tax. You can check out their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company owner, this plan could be perfect for you. It may not offer all of TaxJar’s features, but it has 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.
Professional
If you’re looking for something different from the basics, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to opt for premium plans instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan will cost you. California Sales Tax TaxJar
But they did state that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to gauge whether the software is an excellent fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything 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 ought to try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your head around the subject. California Sales Tax TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
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FAQ California Sales Tax TaxJar
Which areas does TaxJar offer 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 into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar will calculate the tax.
