Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to employ an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So , what can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? Oklahoma Remote Seller Sales Tax Nexus TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. So, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is integrate TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through their AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to handle them. However, it will be up for you and your staff to complete everything in time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as an inventory of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you know how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax in your business. It is also possible to export the information in a CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things related to sales tax. You can look through their guides, webinars, and blog for more information. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get different from the standard features Professional could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to choose premium plans instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations API integrations, team members and AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. Oklahoma Remote Seller Sales Tax Nexus TaxJar
However, they did mention that the plan is custom-made for each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about 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 for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help 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.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you do, 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. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will certainly help you to get your mind around it. Oklahoma Remote Seller Sales Tax Nexus TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do then you’re better to do it by yourself.
FAQ Oklahoma Remote Seller Sales Tax Nexus TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar can calculate your tax.