Taxes are always one of 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 accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to engage an accountant making it your own could be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. While this is an extensive read but you’ll be able to gauge whether TaxJar is what you need in the present.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? TaxJar How To Register For Massachusetts
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
Features and services
One of the first things you’ll need to ensure you have a tax accounting system perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to handle the tax returns. However, it will be up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you require, including an inventory of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of how much you’ve collected, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax in your business. Additionally, you can export the data in CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program should be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the standard features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose the Premium plan instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users as well as AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar How To Register For Massachusetts
However, they did mention that this plan is customized to each user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business, but it can assist you in meeting your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar How To Register For Massachusetts
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole process easy to do, you might be better off doing it on your own.
FAQ TaxJar How To Register For Massachusetts
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.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to 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 currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.