Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on your own can be dangerous. 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 to be done, we can’t choose not to.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to gauge whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Minnesota Rates
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and finish within minutes.
TaxJar is 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 extensively used by online business owners to keep everything neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax platform is compatible with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. For our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle them. However, it will be up to you and your team members to complete everything in time. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team can access everything you need, such as a list of your transactions, reports, as well as the data.
The most appealing aspect of this feature is that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the information as a CSV file if you need it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides and blog for more info. Apart from that the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan could be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to choose an upgrade instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team members and AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Minnesota Rates
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to determine whether the software is a good fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then should try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Minnesota Rates
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar Minnesota Rates
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to USUSD prior to when TaxJar determines the tax.
