Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have enough money to employ an accountant, making it yourself can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to assess whether TaxJar is exactly what you need right now.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? Illinois TaxJar Sales Tax Setup
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to collect data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. In this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to handle these. It is up for you and your staff to complete everything on time. TaxJar is there to guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you need, like an inventory of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the sales tax totals in your business. You can also export the data as CSV format. CSV file if you need it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. You can look through their webinars, guides or blog posts for additional info. Apart from that the sales tax calculator is beneficial when you’re planning to complete everything yourself.
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. For this reason we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan should be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. Illinois TaxJar Sales Tax Setup
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
Luckily, 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 considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce 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 can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what 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. This is also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around it. Illinois TaxJar Sales Tax Setup
If handling your taxes is straightforward, 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 track all of it. In addition, if you find the entire procedure easy to complete, you might be better off doing it by yourself.
FAQ Illinois TaxJar Sales Tax Setup
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports 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 sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar determines your tax.