Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, doing it on yourself can be risky. If you miss one detail 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, we have no choice.
What is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Even though this is a long read but you’ll be able to gauge whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What exactly is TaxJar? How To File Sales Tax Minnesota TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use 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 various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore their features and services.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no need to gather information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through their AutoFile feature. In our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on managing these. However, it will be up to you and your team members to complete everything in time. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you 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 sales taxes to recording and processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as the list of transactions, reports, and the data.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export your data to CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides, and blog for more information. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide 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 levels and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business owner, this plan could be perfect for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. How To File Sales Tax Minnesota TaxJar
But they did state that the plan is custom-made for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine whether the software is the right choice for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include the 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 simple to navigate
- It offers a free trial of 30 days.
- 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
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it aid in tracking your products and revenue It can assist you in meeting your deadlines. This is also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and learn from their sessions 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 fulfill. If you’re in a region with a lot of tax regulations, this will surely help you wrap your mind around it. How To File Sales Tax Minnesota TaxJar
But if handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete, you might be better in doing it all on your own.
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FAQ How To File Sales Tax Minnesota TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate your tax.
