Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a degree 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 enough money to employ an accountant, doing it on yourself can be risky. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. While this is lengthy, you should be able to assess whether TaxJar is what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? Nevada Sales Tax TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. This means that there is no requirement to collect data from different channels and organize it into one platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Other than that, 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 file their sales taxes manually or through their AutoFile feature. For this review, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns The team will guide you on managing them. It is up for you and your team to complete the process in time. TaxJar is there to guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports and data.
The best part about this feature is that they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. It is also possible to export your data in CSV format. CSV file if you need it in your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but for anything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more info. Apart from that their sales tax calculator is helpful if you’re planning on 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 capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrations, team users and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. Nevada Sales Tax TaxJar
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require for your business.
Luckily, 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 looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help 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
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. Nevada Sales Tax TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better off doing it by yourself.
FAQ Nevada Sales Tax TaxJar
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines your tax.