Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, making it your own could be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Watch 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? Rhode Island TaxJar How To File Schedule A
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For our review we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage the tax returns. It is up to you and your team members to complete the process on time. TaxJar will only provide guidance on what you have 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 don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process it. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you know how much you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows you to see the total sales tax within your company. You can also export your data as CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides and blog for more info. Additionally, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan should be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for something that is more than the standard features and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it when you add additional features.
What is the difference from the original plan?
Apart from having access to every one of 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 receive 12 free AutoFiles every year.
If you run a large company, you may need to go for an upgrade instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrationsfor team members and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge how much the Premium plan costs you. Rhode Island TaxJar How To File Schedule A
However, they did say that the plan is custom-made to each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access 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 businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in an area with complex tax regulations, this will certainly help you to get your mind around it. Rhode Island TaxJar How To File Schedule A
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ Rhode Island TaxJar How To File Schedule A
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.