Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to engage 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 to be done, we can’t choose not to.
So what can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Collecting Sales Tax In Arizona
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software is compatible with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. So, there’s no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up for you and your team to complete everything within the timeframe. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports, as well as the data.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax in your business. Additionally, you can export your data as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more details. Apart from that the sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as 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 company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for a bit more than just the basics, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you run a large business, you might need to opt for an upgrade instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data, API integrations, team members, and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Collecting Sales Tax In Arizona
However, they did say that this plan is tailor-fit for each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. 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 to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it help you track your products and revenue It can also help you meet your deadlines. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Collecting Sales Tax In Arizona
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Collecting Sales Tax In Arizona
Which areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar can calculate your tax.