Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant making it your own could be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar How To File California Sales Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is 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 compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing the tax returns. But, it is up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. There could be 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 ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using 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 data.
The best part about this feature is that it lets you to automatically update every day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. You can also export the information as the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to choose an upgrade instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar How To File California Sales Tax
However, they did mention that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge whether the service is the right choice for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. There are tips to follow 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 and requirement you have to meet. If you’re in an area with complex tax laws, this can surely help you wrap your head around the subject. TaxJar How To File California Sales Tax
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar How To File California Sales Tax
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar determines your tax.
