Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant making it yourself can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. While this is lengthy, you should be able to assess whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Registered Agent In Ky
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key data in one location. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. In this review, we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. It is up for you and your team members to complete everything in time. TaxJar will only help you understand what you have to do , but not to handle it.
If you 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 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 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. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export the information as CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business owner, this plan could be perfect for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the 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. They also allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrations, team members as well as AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Registered Agent In Ky
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they have tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Registered Agent In Ky
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Registered Agent In Ky
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar will calculate the tax.