Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the budget to engage an accountant making it your own can be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. Although this is quite lengthy it is possible to gauge whether TaxJar is what you need right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Nevada
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of just 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 business owners who run online businesses to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software is compatible with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. This means that there is no requirement to collect data in multiple channels and organize it into one platform. All you have to do is connect TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to manage them. But, it is up for you and your staff to finish the tax returns in time. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, like a list of your transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to automatically update every day. They not only let you keep track of how much you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. It is also possible to export your data as a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also everything related to sales tax. You can look through their webinars, guides, as well as their blog to find more information. In addition their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand 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 examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans including 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 or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small company manager, the plan should be perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for different from the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to go for premium plans instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Nevada
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Nevada
However, if managing taxes is easy and straightforward, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete then you’re better in doing it all on your own.
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FAQ TaxJar Nevada
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate 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 cannot convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.
