Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have the budget to engage an accountant doing it on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required 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.
This article will take a look at this life-saving device and how it can benefit you. While this is lengthy it is possible to determine if TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar TaxJar Colorado Sales Tax Permit
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. For this review, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to handle the tax returns. It is up for you and your staff to complete the process within the timeframe. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including a list of your transactions, reports, and the data.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. You can also export the data as the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business manager, the plan could be ideal for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the standard features Professional may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose premium plans instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team users as well as AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Colorado Sales Tax Permit
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is the right choice for you.
Pros and Cons
We’ve covered everything 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 to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Colorado Sales Tax Permit
But if handling your taxes is simple, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do then you’re better off doing it on your own.
FAQ TaxJar Colorado Sales Tax Permit
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with 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 doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar determines your tax.