Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. In the event that you do not have enough money to employ an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Even though this is lengthy, you should be able to gauge whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? Philadelphia Sales Tax TaxJar
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing the tax returns. It is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your team can access everything you require, including the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. You can also export the data to CSV format. CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates 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 costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing 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 those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for different from the standard features Professional may be the best option for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. Philadelphia Sales Tax TaxJar
But they did state that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to gauge if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you do, then you should try this.
It’s not just a way to help you track the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. Philadelphia Sales Tax TaxJar
If handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Philadelphia Sales Tax TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar determines your tax.