Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant performing the task on your own can be dangerous. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. While this is a long read, you should be able to determine if TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar New Mexico Sales Tax Calculator-TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no need to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage them. It is up for you and your team members to complete everything in time. TaxJar is there to help you understand what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you require, including an inventory 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 collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export the data in the form of a CSV file in case you require it for your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll know exactly how much budget you have for other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, and blog for more details. In addition the sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan could be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for a bit more than just the standard features Professional may be the best option for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrations, team users and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. New Mexico Sales Tax Calculator-TaxJar
However, they did mention that the plan is custom-made for every user. So the costs will vary according to what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is the right choice for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has 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
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. New Mexico Sales Tax Calculator-TaxJar
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire process easy to do then you’re better to do it by yourself.
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FAQ New Mexico Sales Tax Calculator-TaxJar
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to 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 cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar can calculate the tax.
