Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the budget to hire an accountant, making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy it is possible to determine if TaxJar is the tool you require right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar How Often Sales Tax Due In Ohio
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software is compatible with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, then the system will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. For our review 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. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you’d 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 is automated, from calculating sales tax to recording and processing them. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you need, such as a list of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. Additionally, you can export your data to CSV format. CSV file if you need it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, and blog for more details. In addition their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan will be perfect for you. It may not have 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. You’ll also have access to their integration features.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for premium plans instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar How Often Sales Tax Due In Ohio
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one 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.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To sum it all up, here are the pros and cons of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great option for accountants as they provide a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar How Often Sales Tax Due In Ohio
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure simple to follow, you might be better off doing it by yourself.
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FAQ TaxJar How Often Sales Tax Due In Ohio
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in US$. If you’re using another currency, you will need to convert it to USdollars before TaxJar determines the tax.
