Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be risky. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Although this is quite a long read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Hawaii Shipping
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For our review we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns TaxJar will train you on managing them. However, it will be up to you and your staff to complete the process on time. TaxJar is there to 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 any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. 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 everything you need, like the list of transactions, reports, and information.
The best part about this feature is that they allow you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. Additionally, you can export your data in CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally 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 establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan could be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, API integrationsfor team users, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar Hawaii Shipping
However, they did say that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Does the plan include the 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 easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar Hawaii Shipping
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Hawaii Shipping
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar will calculate your tax.