Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, doing it on yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar How To Application For A Business License In Az TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings 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 that you are in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to complete the process on time. TaxJar will only provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like a list of your transactions, reports, and information.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to see the sales tax totals within your company. Additionally, you can export the information in CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. You can look through their webinars, guides and blog for more information. Apart from that their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan to help you in filing and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program could be perfect for you. It might not include all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to choose an upgrade instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrations, team users and AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal the amount that the Premium plan will cost you. How To Application For A Business License In Az TaxJar
But they did state that this plan is customized for every user. The cost of the plan will be different according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides 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 able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your revenue and products, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will definitely help you get your head around the subject. How To Application For A Business License In Az TaxJar
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
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FAQ How To Application For A Business License In Az TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate your tax.
