Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant making it yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Maine
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key data in one location. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. For this review, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on managing these. However, it will be up for you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, like a list of your transactions, reports and data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you know how much you’ve accumulated however, they can also help you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax within your company. You can also export the data to the form of a CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
The best part 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 guides, webinars, as well as their blog to find more information. In addition, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program should be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking to get different from the basic features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge company, you may need to go for the Premium plan instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data, API integrationsfor team users and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Maine
But they did state that the plan is custom-made for every user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several 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 review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar Maine
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete then you’re better to do it by yourself.
FAQ TaxJar Maine
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar determines the tax.