Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on your own can be risky. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is exactly what you need in the present.
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.
But for those who prefer to read, let’s get right into it.
What is TaxJar How Do I Get Sales From Time Range To State In TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For our review we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. However, it will be up for you and your team to complete everything within the timeframe. TaxJar is there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. 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 can access everything you require, including the list of transactions, reports, as well as the data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export the data to CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale company owner, this plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service 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 company, you may need to opt for an upgrade instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. How Do I Get Sales From Time Range To State In TaxJar
But they did state that this plan is customized for each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to gauge whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- 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 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 numerous platforms. If that sounds like what you do, then you should try this.
Not only can it help you track your products and revenue It can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you reduce time and keep on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this will definitely help you get your head around it. How Do I Get Sales From Time Range To State In TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow, you might be better off doing it on your own.
FAQ How Do I Get Sales From Time Range To State In TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate the tax.