Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to engage an accountant making it your own can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Connecticut
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. 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 perfectly integrates with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. This means that there is no need to gather data from different channels and then organize it on one platform. All you have to do is integrate TaxJar and the platform will take care of the rest.
Apart from 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 file their sales taxes manually or through the AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns The team will guide you on how to manage the tax returns. But, it is up to you and your staff to complete the process in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing them. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your team will have access to all the information you need, such as the list of transactions, reports, and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. They not only let to know the amount you’ve collected, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes within your company. You can also export the information to the form of a CSV file if you need it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more info. In addition their sales tax calculator should 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 offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan will be ideal for you. It might not include all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s options, you also have access to 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 have 12 free AutoFiles each year.
If you run a large business, you might need to go for premium plans instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Connecticut
But they did state that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to gauge whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way 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, but it can help you meet the deadlines you set. This is also an excellent option for accountants as they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Connecticut
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire process easy to do then you’re better off doing it on your own.
FAQ TaxJar Connecticut
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate the tax.