Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant doing it on yourself can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. While this is lengthy, you should be able to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Filing In Nevada
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. That way, there’s no need to collect information from multiple sources and organize it into one platform. All you have to do is to integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll 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 income tax returns TaxJar will train you on managing these. However, it will be up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if not included in the plan you choose.
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 put together into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, such as the list of transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve earned, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the data in a CSV file if you need it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything that has to do with sales tax. You can look through their webinars, guides and blog for more info. In addition their sales tax calculator can be 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. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to choose premium plans instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations API integrationsfor team users, and AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Filing In Nevada
However, they did mention that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will certainly help you to get your head around the subject. TaxJar Filing In Nevada
However, if managing your taxes is simple, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Filing In Nevada
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate the tax.