Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the funds to engage an accountant performing the task on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? Sales Tax In Ny TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. So, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to handle these. But, it is up for you and your team members to finish the tax returns in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you require, including the list of transactions, reports and data.
The best part about this feature is that it allows you to update automatically every day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to see the sales tax totals within your company. Additionally, you can export your data in a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional details. In addition their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter 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 also includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basic features Professional might be the right 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 starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as API integrationsfor team members, and AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. Sales Tax In Ny TaxJar
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several 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
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through 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 regulations, this will definitely help you get your mind around it. Sales Tax In Ny TaxJar
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do then you’re better off doing it by yourself.
FAQ Sales Tax In Ny TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate your tax.