Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to engage an accountant doing it on your own could be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is the tool you require right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Mississippi
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting software is compatible along with sales funnels. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar, and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to manage them. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports, and information.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the total sales tax for your business. You can also export your data to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature will make them 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 operational costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, and blog for more information. Apart from that the sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set 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 examine TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports API integrations, team members, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Mississippi
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for 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 looking into different options, they offer 30 days of free trial. This should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- 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 have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar Mississippi
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better in doing it all by yourself.
FAQ TaxJar Mississippi
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it to US$ before TaxJar can calculate your tax.