Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to engage an accountant making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to avoid 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 always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. While this is a long read it is possible to assess whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? South Carolina Sales Tax Registration TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting software seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. That way, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your staff to complete everything within the timeframe. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports, as well as data.
The best part about this feature is that it allows you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax within your company. It is also possible to export the data to the form of a CSV file if you need it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the standard features, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. South Carolina Sales Tax Registration TaxJar
However, they did say that the plan is custom-made for each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can 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 have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to aid in tracking your revenue and products however, it will 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 get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. South Carolina Sales Tax Registration TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ South Carolina Sales Tax Registration TaxJar
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync 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 cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar determines your tax.