Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, making it your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required 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.
This article will take a look at this life-saving tool and how it can assist you. Even though this is a long read, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar How To Charge Other State Sales
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been used in different industries such as 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 keep everything neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key metrics in one place. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you have to do is integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns The team will guide you on managing the tax returns. It is up for you and your staff to finish the tax returns on time. TaxJar is there to guide you on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process it. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team can access everything you need, such as the list of transactions, reports and the data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export the information as the form of a CSV file in case you require it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. Check out their webinars, guides as well as their blog to find more information. Apart from that their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be perfect for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for that is more than the standard features Professional might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar How To Charge Other State Sales
However, they did say that this plan is customized to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to help you track your revenue and products however, it will assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar How To Charge Other State Sales
But if handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
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FAQ TaxJar How To Charge Other State Sales
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate your tax.
