Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, making it your own can be risky. If you miss one detail, you might have to redo things again!
Most people want to skip this step. But since it’s required, we have no choice.
So what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. Even though this is a long read but you’ll be able to gauge whether 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 review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar Kansas March 2021 In TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been used in a variety of industries, including 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 ensure that everything is neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. 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 connect TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to manage them. But, it is up to you and your staff to complete everything on time. TaxJar will only help you understand what you should do but not handle it.
If you’d 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. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, like the list of transactions, reports, as well as the data.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals for your business. It is also possible to export the data to the form of a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller business owner, this plan will be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for that is more than the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have 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 get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. Kansas March 2021 In TaxJar
However, they did mention that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers 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 is possible to integrate it with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to 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 numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you live in an area with complex tax laws, this can definitely help you get your head around it. Kansas March 2021 In TaxJar
But if handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole procedure simple to follow, you might be better off doing it by yourself.
FAQ Kansas March 2021 In TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate your tax.