Taxes are always one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to engage an accountant doing it on your own can be risky. 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. However, since it’s mandatory, we have no choice.
So what can we do ?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require right now.
Do you 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 we’ll dive right into.
What exactly is TaxJar? TaxJar Hawaii
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners 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 ensure is your tax-reporting software seamlessly works well with your sales channel. If you have 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 key metrics in one place. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to handle them. It is up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you require, including an inventory of your transactions, reports and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. It is also possible to export your data in a CSV file, if you want to use it for your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides and blog for more details. Apart from that, their sales tax calculator is 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 capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge 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, Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Hawaii
However, they did say that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
It’s a good thing that 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. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar Hawaii
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Hawaii
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.