Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to employ an accountant, performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? Sales Tax Utah TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as 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 make their business more organized and straightforward. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar, then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For our review we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to handle the tax returns. It is up for you and your team to complete everything in time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you require, including an inventory of your transactions, reports, and the data.
The greatest benefit of this feature is that it allows you to update automatically every day. Not only can they help to know the amount you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax in your business. It is also possible to export your data to a CSV file in case you require it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but everything related to sales tax. You can check out their webinars, guides, and blog for more info. Apart from that their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the basic features, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to go for premium plans instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. Sales Tax Utah TaxJar
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see if the platform is the right choice for you.
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Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it aid in tracking your revenue and products It can also help you meet your deadlines. It is also a great option for accountants as they provide 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 the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your mind around it. Sales Tax Utah TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ Sales Tax Utah TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar can calculate the tax.
