Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the funds to engage an accountant making it yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Although this is quite an extensive read, you should be able to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar Resale Certificate Faq TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. In our review we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns The team will guide you on how to handle these. It is up to you and your team to complete the process within the timeframe. TaxJar is only there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, like an inventory of your transactions, reports, as well as the data.
The best part about this feature is that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. It is also possible to export your data in a CSV file, if you want to use it in your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides, and blog for more info. Additionally, their sales tax calculator can be helpful if you’re planning on 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 expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you in filing and reporting. It comes with sales tax reporting, four autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan could be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get different from the basic features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to go for 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 integrations, team users and AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. Resale Certificate Faq TaxJar
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need to run your business.
Luckily, 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 a 30-day free trial. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of 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 a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around it. Resale Certificate Faq TaxJar
If handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure simple to follow, you might be better off doing it by yourself.
FAQ Resale Certificate Faq TaxJar
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar can calculate the tax.