Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to employ an accountant, performing the task on your own can be risky. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? Rhode Island TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, 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 make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need 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 lets you display your critical metrics in one place. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on how to manage them. It is up for you and your team members to complete the process within the timeframe. TaxJar is there to guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports and information.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export the information in a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan could be ideal for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to go for the Premium plan instead. It has all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrations, team users and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the price of the Premium plan. costs you. Rhode Island TaxJar
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax 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
- 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 is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of 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 provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this will certainly help you to get your head around the subject. Rhode Island TaxJar
If handling your taxes is simple, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow then you’re better to do it on your own.
FAQ Rhode Island TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports 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 with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the 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.