Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar? Pennsylvania TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively 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.
Services and features
One of the most important things you’ll want to check is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on managing the tax returns. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you require, including a list of your transactions, reports, as well as information.
The best part about this option is the fact that it lets you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you determine when your next payments are due.
Their dashboard can also allow you to see the sales tax totals for your business. It is also possible to export your data as a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount 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 operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but for anything connected to sales tax. Check out their webinars, guides, and blog for more information. Additionally their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to go for the Premium plan instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal how much the Premium plan will cost you. Pennsylvania TaxJar
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize Here are the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they offer tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will certainly help you to get your mind around it. Pennsylvania TaxJar
If handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ Pennsylvania TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar can calculate the tax.