Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, performing the task on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is what you need in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Only Charge Tax For One State
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. So, there’s no need to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage them. But, it is up to you and your team to complete everything within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to all the information you need, like the list of transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the overall sales taxes for your business. It is also possible to export the data as a CSV file in case you require it in your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more info. Additionally, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features Professional may be the best option for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for an upgrade instead. It includes all of the features needed to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrationsfor team users and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Only Charge Tax For One State
However, they did mention that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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 be able to access the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that’s what you do, then you ought to try this.
Not only will it help you track your products and revenue however, it will help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Only Charge Tax For One State
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Only Charge Tax For One State
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.