Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the budget to employ an accountant, making it your own could be risky. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Although this is quite lengthy it is possible to assess whether TaxJar is exactly what you need right now.
Prefer 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, let’s dive right in.
What is TaxJar? TaxJar Apply For Sales Tax License
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to handle these. It is up for you and your team to complete the process on time. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled 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 and data.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export your data to a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all 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 if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things related to sales tax. Check out their webinars, guides, or blog posts for additional information. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you to help you in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan will be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher if you add custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Apply For Sales Tax License
However, they did mention that this plan is tailor-fit for every user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Apply For Sales Tax License
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Apply For Sales Tax License
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.