Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have enough money to employ an accountant, performing the task on your own can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But since it’s required, we have no choice.
So what can we do ?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. While this is an extensive read it is possible to assess whether TaxJar is what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Registered Agent
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your critical data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing these. However, it will be up to you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports and the data.
The best part about this feature is that it allows 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 track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes within your company. You can also export your data to a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform but all things that has to do with sales tax. Check out their webinars, guides or blog posts for additional details. Apart from that their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements or reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the standard features Professional could be the one for you. The price starts at $99 however, it could go up if you add 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, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to opt for premium plans instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Registered Agent
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is a good fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t 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 can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue It can help you meet your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar Registered Agent
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow then you’re better to do it on your own.
FAQ TaxJar Registered Agent
What areas does TaxJar offer 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 with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines your tax.