Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have enough money to employ an accountant, making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want 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 always simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and how it can help you. Although this is quite a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar Does TaxJar Reimburse State Penalty Fees
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into one platform. All you have to do is connect TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on managing them. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar will only help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals for your business. You can also export the information in the form of a CSV file in case you require it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. 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 feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional details. Additionally the sales tax calculator is helpful if you’re planning on 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. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements or reporting. It includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not have all the features of TaxJar but it comes with all the basics you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. Does TaxJar Reimburse State Penalty Fees
However, they did mention that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online 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
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
Not only will it help you track your products and revenue It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around the subject. Does TaxJar Reimburse State Penalty Fees
But if handling your taxes is straightforward 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 all of it. In addition, if you find the whole procedure easy to complete, you might be better in doing it all by yourself.
FAQ Does TaxJar Reimburse State Penalty Fees
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to US$ before TaxJar determines the tax.