Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to employ an accountant, making it yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with 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 explain how it can help you. Although this is quite an extensive read it is possible to assess whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? Sales Tax Permit Oregon TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax software perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing the tax returns. However, it will be up to you and your team to finish the tax returns in time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything is automated, from calculating taxes on sales in order to record and process it. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your team can access everything you need, like a list of your transactions, reports and information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. It is also possible to export the data in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. 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 just for their platform , but also for anything connected to sales tax. You can check out their guides, webinars, and blog for more info. Apart from that the sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The 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 includes the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program should be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to 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 but you can increase it when you add additional features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to choose an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data API integrationsfor team members, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Sales Tax Permit Oregon TaxJar
However, they did say 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.
It’s a good thing that you don’t have to risk your money to see if this platform 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 be enough time to determine whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple 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 applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it help you track the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can certainly help you to get your head around the subject. Sales Tax Permit Oregon TaxJar
However, if managing taxes is easy, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ Sales Tax Permit Oregon TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar can calculate the tax.