Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, making it your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Colorado TaxJar Shipping Tax
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. 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 platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. That way, there’s no requirement to collect information from multiple sources and organize it into one platform. All you need to do is connect TaxJar then the system will handle 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:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on managing the tax returns. It is up for you and your team to complete the process on time. TaxJar will only provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, as well as the data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the overall sales taxes within your company. It is also possible to export the data to CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional information. In addition the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan if you need help with filing requirements or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan should be perfect for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team users and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Colorado TaxJar Shipping Tax
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is 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 the right choice for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your products and revenue, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you reduce time and keep track of every deadline or requirement you need to meet. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around it. Colorado TaxJar Shipping Tax
But if handling taxes is easy, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ Colorado TaxJar Shipping Tax
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.