Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have the funds to hire an accountant, performing the task on your own can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
Prefer to watch videos 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, then we’ll dive right into.
What is TaxJar? TaxJar How To Register Per State
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key data in one location. This means that there is no need to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to handle them. But, it is up to you and your team members to complete the process within the timeframe. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales tax through recording, and then processing them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together 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 the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to see the overall sales taxes for your business. Additionally, you can export the data to CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides, as well as their blog to find more details. In addition their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be perfect for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration tools.
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. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited import integrations of data API integrations, team members as well as AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar How To Register Per State
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your company.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your company.
- There is a 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
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor 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 to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar How To Register Per State
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track 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 on your own.
FAQ TaxJar How To Register Per State
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type 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 USdollars prior to when TaxJar will calculate the tax.