Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to employ an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Massachusetts
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s 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 taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
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 most important things you’ll need to make sure is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data in multiple channels and sort it into one platform. All you have to do is to integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. For our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. It is up for you and your team members to complete the process on time. TaxJar will only provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. 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, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you need, like a list of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax for your business. You can also export your data as CSV format. CSV file if you need it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an 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 be aware of the budget you have available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but all things connected to sales tax. Check out their webinars, guides and blog for more info. In addition, their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. 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 including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to opt for premium plans instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrations, team members and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Massachusetts
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you do, then you should try this.
Not only can it aid in tracking the sales and profits of your business, but it can help you meet the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Massachusetts
However, if managing taxes is easy and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Massachusetts
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.