Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly 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 dangerous. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require 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.
If you prefer to read, let’s get right into it.
What is TaxJar? TaxJar California Address Of Nexus Home
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For this review, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns The team will guide you on managing these. But, it is up for you and your team members to complete the process on time. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, like a list of your transactions, reports and data.
The best part about this feature is that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals within your company. Additionally, you can export your data as CSV format. CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional details. Additionally their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something that is more than the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar California Address Of Nexus Home
However, they did mention that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar California Address Of Nexus Home
If handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar California Address Of Nexus Home
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar determines the tax.