Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to employ an accountant, performing the task on your own can be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is lengthy it is possible to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? Iowa TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. This means that there is no requirement to collect data from different channels and sort it into one platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns The team will guide you on managing them. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar will only help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports, and data.
The best part about this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. Additionally, you can export your data to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can look through their guides, webinars, and blog for more info. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale company proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for different from the standard features, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose an upgrade instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. Iowa TaxJar
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax 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
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will certainly help you to get your head around the subject. Iowa TaxJar
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do, you might be better to do it on your own.
FAQ Iowa TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate your tax.