Taxes have always been among the most difficult things to handle 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 aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant performing the task on yourself can be risky. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is an extensive read it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? Register Sales Tax Colorado TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar it will do all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. For our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on how to handle them. It is up to you and your team to complete the process on time. TaxJar is there to guide you on what you need to accomplish, but not manage 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. Through this feature, everything will be automated from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, like a list of your transactions, reports, and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals for your business. Additionally, you can export your data to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides or blog posts for additional information. Additionally, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for premium plans instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrations, team members and AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan is going to cost. Register Sales Tax Colorado TaxJar
However, they did say that this plan is tailor-fit for every user. So the costs will vary depending on what you need for your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. To summarize, here are the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it help you track the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent option for accountants as they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. Register Sales Tax Colorado TaxJar
But if handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
FAQ Register Sales Tax Colorado TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate your tax.