Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to engage an accountant making it your own can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want 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?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? How To Tell TaxJar My State Taxes Are Paid?
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well 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 show your critical data in one location. That way, there’s no need to gather information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar then the system will handle all the rest.
In addition, 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:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to handle the tax returns. It is up to you and your team to complete everything within the timeframe. TaxJar will only guide you on 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 through recording, and then processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you require, including an inventory of your transactions, reports, and the data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. They not only let to know the amount you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals in your business. You can also export your data in CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides as well as their blog to find more information. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan could be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get that is more than the basics Professional might be the right one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the amount that the Premium plan is going to cost. How To Tell TaxJar My State Taxes Are Paid?
But they did state that this plan is customized to each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it help you track your revenue and products It can help you meet your deadlines. It is also a great platform for an accountant since they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your mind around it. How To Tell TaxJar My State Taxes Are Paid?
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ How To Tell TaxJar My State Taxes Are Paid?
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar will calculate the tax.