Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have enough money to engage an accountant performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. While this is a long read it is possible to assess whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar Report Says I Need To Pay $75 In TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. That way, there’s no need to gather 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.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle them. However, it will be up for you and your staff to complete the process on time. TaxJar is there to help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as the list of transactions, reports, and information.
The best part about this feature is that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. Additionally, you can export your data in a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more info. Additionally their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan to help you in filing and reporting. It also includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration features.
If you’re looking for different from the basics, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Report Says I Need To Pay $75 In TaxJar
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track your products and revenue It can help you meet your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will certainly help you to get your mind around it. Report Says I Need To Pay $75 In TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire process easy to do then you’re better off doing it by yourself.
FAQ Report Says I Need To Pay $75 In TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines the tax.