Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant doing it on your own can be risky. If you overlook one thing, you might have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. Even though this is an extensive read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Iowa
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data from different channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. It is up for you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize 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. Once you’re on the platform you and your staff can access everything you require, including a list of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payment is due.
The dashboard allows you to see the total sales tax 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 your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you need them in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things related to sales tax. Check out their webinars, guides or blog posts for additional details. Apart from that their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Iowa
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your company.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around it. TaxJar Iowa
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete, you might be better in doing it all on your own.
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FAQ TaxJar Iowa
What areas does TaxJar provide API support?
TaxJar currently supports 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 with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar will calculate your tax.
