Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have enough money to hire an accountant, performing the task on your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Do you 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.
If you prefer to read, then let’s get right into it.
What is TaxJar Kentucky Sales Tax TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar is used 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 used extensively by online business owners to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax software seamlessly works well with your sales channel. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar, and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing these. It is up for you and your team to complete everything in time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you would 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 is automated, from calculating sales tax through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you need, such as a list of your transactions, reports and the data.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the total sales tax for your business. It is also possible to export the data in CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can look through their guides, webinars, or blog posts for additional info. Additionally their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale company owner, this plan should be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration features.
If you’re looking to get a bit more than just the basics and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also 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 you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrations, team members, and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Kentucky Sales Tax TaxJar
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your revenue and products It can help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. Kentucky Sales Tax TaxJar
If handling taxes is easy, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete then you’re better off doing it by yourself.
FAQ Kentucky Sales Tax TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar can calculate your tax.