Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, making it your own can be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to gauge whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Kentucky Sales Tax Income Ta
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar, and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle the tax returns. It is up to you and your staff to complete the process in time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes in order to record and process them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports and information.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. Additionally, you can export your data to CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials, not just on their platform, but everything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not have all the features of TaxJar, but it has the basic features you require.
Additionally, you can 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 basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to go for an upgrade instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Kentucky Sales Tax Income Ta
However, they did mention that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then you should try this.
Not only can it aid in tracking the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar Kentucky Sales Tax Income Ta
However, if managing your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do, you might be better in doing it all by yourself.
FAQ TaxJar Kentucky Sales Tax Income Ta
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.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar determines your tax.