Taxes have always been among the hardest things to do, whether you’re running an enterprise 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 full of things to be done. If you don’t have the funds to engage an accountant making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite a long read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar How To Register For Sales Tax
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns, the team will instruct you on managing them. However, it will be up to you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned 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. From there you and your team will have access to all the information you require, including an inventory of your transactions, reports, and information.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the data to CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also all things related to sales tax. You can check out their webinars, guides or blog posts for additional details. Apart from that their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small company manager, the plan will be ideal for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference 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 sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for an upgrade instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan will cost you. TaxJar How To Register For Sales Tax
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
Not only will it aid in tracking your revenue and products however, it will assist you in meeting the deadlines you set. It is also a great option for accountants as they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar How To Register For Sales Tax
If handling your taxes is straightforward, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete then you’re better in doing it all on your own.
FAQ TaxJar How To Register For Sales Tax
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate the tax.