Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant doing it on your own could be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? Saas TaxJar Out Of State Subscriptions
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your most important data in one location. That way, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing them. But, it is up for you and your staff to finish the tax returns on time. TaxJar will only provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales tax to recording and processing it. There could be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use 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 will have access to all the information you need, such as the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes for your business. You can also export the information as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their webinars, guides, and blog for more details. In addition their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get that is more than the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge company, you may need to opt for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Saas TaxJar Out Of State Subscriptions
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around the subject. Saas TaxJar Out Of State Subscriptions
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do then you’re better to do it on your own.
FAQ Saas TaxJar Out Of State Subscriptions
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate your tax.