Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to engage an accountant doing it on yourself can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is a long read but you’ll be able to assess whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Indiana
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. For this review, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to handle the tax returns. It is up to you and your team members to complete the process in time. TaxJar will only guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, and the data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export your data as a CSV file in case you require it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but for anything related to sales tax. You can check out their webinars, guides and blog for more information. Additionally their 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. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small company owner, this plan could be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basic features, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to go for premium plans instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Indiana
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide 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 Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet your deadlines. 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 reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will surely help you wrap your head around it. TaxJar Indiana
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Indiana
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 into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate the tax.