Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to employ an accountant, performing the task on yourself can be risky. If you miss one detail, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is what you need right now.
Do you prefer video streaming instead? Watch 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, then let’s dive right in.
What is TaxJar? TaxJar Average Sales Tax By State
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no requirement to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on managing these. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar will only provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together 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 the list of transactions, reports, as well as information.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. They not only let to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to see the total sales tax within your company. Additionally, you can export the data to the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating 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. You can check out their webinars, guides, or blog posts for additional information. Additionally the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Average Sales Tax By State
But they did state that this plan is customized for every user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize, here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your revenue and products, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Average Sales Tax By State
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Average Sales Tax By State
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I 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 does not convert currency values. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.