Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to employ an accountant, doing it on yourself can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Even though this is lengthy it is possible to determine if TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar And Kansas
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no need to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar then the system will handle the rest.
Other than that, 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 the AutoFile feature. For this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to handle these. However, it will be up for you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you have 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 any forms manually. Through this feature, everything will be automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like a list of your transactions, reports and the data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. They not only let to know the amount you’ve earned, but they also help you track when your following 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 in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. You can check out their guides, webinars, as well as their blog to find more details. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business owner, this plan could be ideal for you. It might not include all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the basics, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to go for premium plans instead. It includes all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrations, team users, and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar And Kansas
However, they did mention that this plan is customized for every user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to determine whether the software is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you do, then you should try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar can help you save more time while keeping track of every deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around it. TaxJar And Kansas
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire process easy to do, you might be better in doing it all on your own.
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FAQ TaxJar And Kansas
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar can calculate your tax.
