Taxes have always been one of the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have the funds to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Colorado Rate
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, 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 ensure compliance with your sales taxes. It streamlines processes that can 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 businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software is compatible along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. So, there’s no need to gather information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. It is up to you and your team to finish the tax returns on time. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, and information.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals within your company. Additionally, you can export the data as the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, and blog for more details. In addition the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller company manager, the plan could be ideal for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to opt for premium plans instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal how much the Premium plan costs you. TaxJar Colorado Rate
However, they did mention that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the 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 give you enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several 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 applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Colorado Rate
However, if managing your taxes is straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Colorado Rate
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account with 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 doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines the tax.