Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
So what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. While this is lengthy but you’ll be able to assess whether TaxJar is what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar Kentucky TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure is your tax-reporting 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 most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. So, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on managing the tax returns. It is up to you and your team members to complete everything on time. TaxJar is there to help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as data.
The best part about this option is the fact that it lets you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export your data as CSV format. CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
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 scramble for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials not only for their platform but for anything related to sales tax. Check out their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason 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.
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, four autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company owner, this plan could be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose premium plans instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the amount that the Premium plan is going to cost. Kentucky TaxJar
However, they did mention that this plan is customized to each user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to determine whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple 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 for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it help you track your revenue and products, but it can help you meet the deadlines you set. It’s also an excellent option for accountants as they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you live in a place with complicated tax laws, this will definitely help you get your head around it. Kentucky TaxJar
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, 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 off doing it by yourself.
FAQ Kentucky TaxJar
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar can calculate the tax.