Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Even though this is an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? Filing For Sales Tax In Washington TaxJar
The company was founded in 2013 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 in all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting software is compatible with your sales channel. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar, then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to manage these. It is up to you and your team to complete the process within the timeframe. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to all the information you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals in your business. You can also export the data to a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to search for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything connected to sales tax. You can look through their webinars, guides, or blog posts for additional info. Additionally the sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. 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 including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan could be perfect for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something different from the basic features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the basic 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 the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan is going to cost. Filing For Sales Tax In Washington TaxJar
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this will surely help you wrap your head around it. Filing For Sales Tax In Washington TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ Filing For Sales Tax In Washington TaxJar
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.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate the tax.
