Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to employ an accountant, doing it on your own could be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Watch 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 get right into it.
What is TaxJar? Ks Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax software is compatible with your sales channel. If you have multiple sales 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 display your key data in one location. This means that there is no need to collect information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar, it will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In this review, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team to finish the tax returns on time. TaxJar is there to help you understand 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 won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. It is also possible to export the information as the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. You can look through their webinars, guides and blog for more information. Additionally, their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan could be ideal for you. It might not include all the features of TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the standard features Professional might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the original plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the amount that the Premium plan costs you. Ks Sales Tax TaxJar
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then should try this.
Not only will it assist you in keeping track of the sales and profits of your business, but it can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you live in an area with complex tax laws, this will definitely help you get your mind around it. Ks Sales Tax TaxJar
If handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better off doing it by yourself.
FAQ Ks Sales Tax TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar determines your tax.