Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant doing it on yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is what you need right now.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar How To File In Every State
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, 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 make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. This means that there is no need to gather data from different channels and sort it into one platform. All you have to do is integrate TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on managing these. But, it is 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 to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including an inventory of your transactions, reports, and information.
The best part about the feature you’ve chosen is it lets you to automatically update every day. They not only 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 total sales tax for your business. Additionally, you can export your data as the form of a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but everything 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 is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get that is more than the basic features, then the Professional plan could be the one for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large enterprise, you may want to opt for an upgrade instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data, API integrationsfor team users, and AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar How To File In Every State
But they did state that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of making use of TaxJar for your company.
- Does the plan include the 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 simple 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
- 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
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping on top of each deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will surely help you wrap your head around the subject. TaxJar How To File In Every State
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar How To File In Every State
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.