Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant making it your own can be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite an extensive read it is possible to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Blog Can I File Quarterly In Nc
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting system seamlessly works well with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no need to collect information from multiple sources and sort it into one platform. All you need to do is connect TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For this review, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on managing them. However, it will be up for you and your team members to finish the tax returns in time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team can access everything you need, like the list of transactions, reports, as well as information.
The best part about this feature is that they allow you to update your account automatically each day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax within your company. You can also export the information in a CSV file if you need it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more info. Apart from that, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It comes with sales tax reporting, four free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan should be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the standard features Professional might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Blog Can I File Quarterly In Nc
However, they did mention that this plan is tailor-fit for every user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to 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 for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it aid in tracking your products and revenue however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to meet. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Blog Can I File Quarterly In Nc
If handling taxes is easy, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar Blog Can I File Quarterly In Nc
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into 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 kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines the tax.