Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to employ an accountant, performing the task on your own could be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. While this is an extensive read it is possible to assess whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? North Carolina TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is 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 that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. 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 need to gather information from multiple sources 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 that can help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need 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 it. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, as well as data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals in your business. Additionally, you can export the data to a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan will be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data, API integrations, team members, and AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. North Carolina TaxJar
However, they did mention that the plan is custom-made for every user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track 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 to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you should try this.
Not only will it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can certainly help you to get your head around it. North Carolina TaxJar
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete, you might be better in doing it all by yourself.
FAQ North Carolina TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.