Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the budget to hire an accountant, performing the task on your own could be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Register Sales Tax In Montana
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. This means that there is no need to collect data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In our review we’ll look into both.
If you opt 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 instruct you on managing the tax returns. However, it will be up to you and your team members to complete everything in time. TaxJar will only help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax to recording and processing them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports, and information.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. It is also possible to export your data to CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. Check out their webinars, guides, as well as their blog to find more information. In addition, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the basics and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to go for the Premium plan instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Register Sales Tax In Montana
But they did state that this plan is tailor-fit to each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Register Sales Tax In Montana
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Register Sales Tax In Montana
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.