Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to engage an accountant making it your own can be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. While this is a long read it is possible to determine if TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? Iowa Sales Tax TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything 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 is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will take care of all 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 they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For this review, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to handle them. It is up for you and your team members to complete the process in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating sales tax to recording and processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like an inventory of your transactions, reports, and the data.
The most appealing aspect of this feature is that it lets you to automatically update every day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals for your business. Additionally, you can export the data in the form of a CSV file if you need it for your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. Additionally, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into 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.
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program should be perfect for you. It might not include all the features of TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking to get different from the basics Professional might be the right one for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose the Premium plan instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. Iowa Sales Tax TaxJar
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
- 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.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t 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 provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking your products and revenue however, it will also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. Iowa Sales Tax TaxJar
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better in doing it all by yourself.
FAQ Iowa Sales Tax TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.