Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, 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 your own could be risky. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
What can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Nevada Sales Tax
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting system seamlessly works well with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. This means that there is no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on managing the tax returns. It is up for you and your team members to complete the process within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. 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 need, like the list of transactions, reports and the data.
The best part about this feature is that it lets you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. You can also export the data as the form of a CSV file if you need it for your process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, or blog posts for additional information. Apart from that, their sales tax calculator is 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 your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking to get different from the basics 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.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to go for premium plans instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data API integrations, team users and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Nevada Sales Tax
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy 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 have access to the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this can certainly help you to get your mind around it. TaxJar Nevada Sales Tax
But if handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Nevada Sales Tax
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate the tax.
