Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, doing it on yourself can be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
What can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. While this is an extensive read it is possible to determine if TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? State And Local Tax 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 your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key data in one location. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. For our review we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on managing the tax returns. It is up to you and your staff to complete the process on time. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. From there, you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only can they help you know how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the sales tax totals in your business. You can also export the information to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller company manager, the plan should be perfect for you. It might not include all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basic features Professional could be the one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for premium plans instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. State And Local Tax TaxJar
However, they did say that this plan is customized for each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still considering different options, they offer 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
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then should try this.
Not only will it help you track your revenue and products, but it can help you meet the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. State And Local Tax TaxJar
But if handling your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire process easy to do, you might be better in doing it all by yourself.
FAQ State And Local Tax TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate your tax.