Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to engage an accountant making it your own could be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? Nebraska Sales Tax TaxJar
In 2013, TaxJar was established. 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 in all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. That way, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. In our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your team to finish the tax returns on time. TaxJar will only help you understand what you need 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 all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports and information.
The greatest benefit of this feature is that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. It is also possible to export the information to the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their guides, webinars, and blog for more information. In addition, their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small business owner, this plan will be ideal for you. It may not offer all the features of TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for a bit more than just the basic features Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Nebraska Sales Tax TaxJar
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. Nebraska Sales Tax TaxJar
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow, you might be better off doing it by yourself.
FAQ Nebraska Sales Tax TaxJar
Which areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar can calculate your tax.