Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, performing the task on your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
We can make life easier with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Even though this is an extensive read it is possible to assess whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? How To File For Virginia TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. This means that there is no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns, the team will instruct you on managing them. However, it will be up to you and your staff to complete the process in time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes to recording and processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as a list of your transactions, reports, and the data.
The best part about this feature is that it allows you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. Additionally, you can export your data as a CSV file if you need it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only on 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. Apart from that the sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan could be ideal for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to choose the Premium plan instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrations, team members and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. How To File For Virginia TaxJar
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one 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 need to know about TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can 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 have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can help you meet your deadlines. It is also a great opportunity for accountants since they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your mind around it. How To File For Virginia TaxJar
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ How To File For Virginia TaxJar
What are the areas in which TaxJar provide 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 link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to USUSD prior to when TaxJar will calculate your tax.
