Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, making it your own can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Although this is quite an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Pay Past Sales Tax With TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your team to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team can access everything you require, including a list of your transactions, reports, as well as information.
The best part about this feature is that it lets you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. It is also possible to export the information as CSV format. CSV file if you need it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes 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 choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan will be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something a bit more than just the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Pay Past Sales Tax With TaxJar
But they did state that the plan is custom-made for every user. So the costs will vary depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax 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.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to aid in tracking your revenue and products, but it can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will certainly help you to get your mind around it. Pay Past Sales Tax With TaxJar
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire process easy to do, you might be better off doing it on your own.
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FAQ Pay Past Sales Tax With TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar determines your tax.
