Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is a long read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar Ohio State Sales Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting software is compatible with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. So, there’s no need to collect information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. It is up to you and your team to complete everything in time. TaxJar is 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 for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax in order to record and process them. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that they allow you to automatically update every day. They not only 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.
Their dashboard also allows you to see the overall sales taxes within your company. Additionally, you can export the data as the form of a CSV file in case you require it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have available for other operating expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but everything connected to sales tax. Check out their webinars, guides and blog for more details. In addition, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
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 expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team users, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Ohio State Sales Tax
But they did state that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has 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 on AutoFile are determined by 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 review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you should try this.
Not only will it assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Ohio State Sales Tax
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Ohio State Sales Tax
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.