Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have enough money to employ an accountant, doing it on your own can be risky. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. Even though this is a long read it is possible to determine if TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? Does TaxJar File Sale Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, 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 your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform is compatible along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on how to manage the tax returns. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar will only help you understand 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 the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including a list of your transactions, reports, and information.
The greatest benefit of this feature is that they allow you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. You can also export your data as CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but all things connected to sales tax. You can check out their webinars, guides or blog posts for additional details. In addition their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan should be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their customer support via 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. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to opt for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrationsfor team users and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan is going to cost. Does TaxJar File Sale Tax
However, they did say that the plan is custom-made for each user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include 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
- Allows you to track multiple 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 applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
Not only can it help you track your products and revenue It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can definitely help you get your head around it. Does TaxJar File Sale Tax
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the whole process easy to do, you might be better off doing it on your own.
FAQ Does TaxJar File Sale Tax
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it to USUSD before TaxJar will calculate the tax.