Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, making it your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is a long read, you should be able to gauge whether TaxJar is what you need today.
Prefer watching videos rather than watch them? 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 Fill Out Dr-15
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform is compatible with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. This means that there is no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your team to complete everything in time. TaxJar is there to help you understand what you need to 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 all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you need, like a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export your data in a CSV file in case you require it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional information. In addition the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar How To Fill Out Dr-15
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products It can help you meet the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you live in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar How To Fill Out Dr-15
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar How To Fill Out Dr-15
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate your tax.