Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have the funds to employ an accountant, performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can 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 assist you. While this is lengthy it is possible to determine if TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Nexus By State
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that 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 as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In this review, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to handle them. It is up for you and your team to complete everything within the timeframe. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports, as well as the data.
The best part about this feature is that it allows you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the information in the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things related to sales tax. You can check out their webinars, guides or blog posts for additional info. Additionally the sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide 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 levels and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements and reporting. It includes sales tax reporting, four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan should be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for different from the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose premium plans instead. It includes all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Nexus By State
However, they did say that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to determine if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking your products and revenue It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. TaxJar Nexus By State
If handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Nexus By State
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.