Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can assist you. Although this is quite a long read, you should be able to gauge whether TaxJar is exactly what you need today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? North Dakota TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything 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 make sure is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to manage them. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is there to help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports, and information.
The best part about this feature is that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the sales tax totals for 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 for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the standard features, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. North Dakota TaxJar
However, they did mention that the plan is custom-made for every user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to determine whether the service is an excellent 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 pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great platform for an accountant since they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your head around the subject. North Dakota TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do then you’re better to do it by yourself.
FAQ North Dakota TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate the tax.