Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant doing it on your own could be risky. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar July States Sales Tax Due Dates
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure is that your accounting tax platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no need to collect data in multiple channels and sort it into one platform. All you need to do is connect TaxJar it 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 they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll take a look 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 the filing of income tax returns TaxJar will train you on managing these. However, it will be up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team will have access to everything you need, like a list of your transactions, reports and the data.
The best part about this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. You can also export the information to 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 on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their guides, webinars, and blog for more information. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan should be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the basic plan?
In addition to having access to 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 get 12 AutoFiles for free each year.
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrations, team members and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar July States Sales Tax Due Dates
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business It can help you meet your deadlines. It’s also an excellent option for accountants as they have the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar July States Sales Tax Due Dates
But if handling your taxes is straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ TaxJar July States Sales Tax Due Dates
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar determines your tax.