Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is what you need right now.
Are you looking 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.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Indiana Sales Tax
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting system seamlessly works well with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. That way, there’s no need to collect data from different channels and organize it into a single platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing the tax returns. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including an inventory of your transactions, reports and data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to see the overall sales taxes within your company. It is also possible to export the information in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their guides, webinars, and blog for more info. Additionally the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller business owner, this plan will be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for an upgrade instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Indiana Sales Tax
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is simple 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. It’s also an excellent option for accountants as they have a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Indiana Sales Tax
However, if managing taxes is easy, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do then you’re better to do it on your own.
FAQ TaxJar Indiana Sales Tax
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.