Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Even though this is an extensive read but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar North Carolina
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, then the system 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 highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to handle these. However, it will be up to you and your team members to complete the process in time. TaxJar is there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to all the information you need, such as the list of transactions, reports, as well as data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. It is also possible to export the data as CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things related to sales tax. You can look through their webinars, guides and blog for more information. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to go for premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations API integrations, team users and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar North Carolina
But they did state that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to determine whether the software is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- There is 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 easy to navigate
- It offers a free trial of 30 days.
- It can 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
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar North Carolina
If handling taxes is easy, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do, you might be better off doing it by yourself.
FAQ TaxJar North Carolina
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.