Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to employ an accountant, making it your own could be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
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 popular life-saving tool and explain how it can benefit you. Although this is quite a long read it is possible to gauge whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? Sales Tax Permit Wisconsin TaxJar
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 all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take 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 companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key data in one location. So, there’s no need to gather information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on managing them. But, it is up to you and your team members to finish the tax returns within the timeframe. TaxJar will only guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales taxes to recording and processing them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, as well as information.
The most appealing aspect of this feature is that it lets you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. You can also export the information in CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more details. In addition, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the basics Professional might be the right one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the basic plan?
Apart from 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 have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to opt for premium plans instead. It comes with all the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team users and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Sales Tax Permit Wisconsin TaxJar
However, they did say that this plan is customized for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting your deadlines. It is also a great option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your head around it. Sales Tax Permit Wisconsin TaxJar
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete then you’re better in doing it all by yourself.
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FAQ Sales Tax Permit Wisconsin TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar will calculate the tax.
