Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to employ an accountant, making it your own could be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is a long read but you’ll be able to gauge whether TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Colorado Service Fee
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In our review we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle these. But, it is up for you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that 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 them. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like an inventory of your transactions, reports, and data.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount 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 for your business. It is also possible to export your data to the form of a CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things related to sales tax. You can check out their guides, webinars, and blog for more details. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for different from the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrations, team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Colorado Service Fee
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this will surely help you wrap your mind around it. TaxJar Colorado Service Fee
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Colorado Service Fee
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together 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 kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar determines the tax.