Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on yourself can be risky. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. While this is a long read but you’ll be able to assess whether TaxJar is the tool you require in the present.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Missouri Sales Tax
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax software is compatible with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. This means that there is no need to gather information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. However, it will be up for you and your team to complete everything within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. It is also possible to export the data as the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their webinars, guides and blog for more details. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the standard features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar Missouri Sales Tax
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you should try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Missouri Sales Tax
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do, you might be better off doing it on your own.
FAQ TaxJar Missouri Sales Tax
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines the tax.