Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t 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 funds to hire an accountant, making it yourself can be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can assist you. Even though this is an extensive read it is possible to assess whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Oklahoma
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar, it will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In our review we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on how to manage these. But, it is up for you and your team to complete the process within the timeframe. TaxJar will only help you understand what you need to do but not 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. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export the information to CSV format. CSV file if you need it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be ideal for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking for something that is more than the standard features Professional might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to go for an upgrade instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Oklahoma
But they did state that this plan is customized for each user. So the costs will vary according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to see whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize Here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you should try this.
Not only can 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. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar Oklahoma
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do, you might be better to do it on your own.
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FAQ TaxJar Oklahoma
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines your tax.
