Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant doing it on your own can be dangerous. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. While this is a long read, you should be able to determine if 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.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Register In Every State Sales Tax
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting software is compatible with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one spot. So, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. It is up for you and your team members to finish the tax returns on time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing them. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you need, such as the list of transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. Not only will they let you know how much you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals in your business. It is also possible to export the information in a CSV file if you need it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial 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 tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose the Premium plan instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrationsfor team users, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Register In Every State Sales Tax
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
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 considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is a good fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of 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
- Offers an online sales tax 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
- You can track several 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 to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that’s what you do, then you should try this.
Not only can it help you track your products and revenue, but it can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this can certainly help you to get your mind around it. TaxJar Register In Every State Sales Tax
However, if managing taxes is easy and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Register In Every State Sales Tax
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD before TaxJar can calculate the tax.