Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the funds to engage an accountant doing it on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Sales Tax By Address
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it in 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 is completed in just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to manage these. But, it is up to you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you need to do , but not to handle 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 any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing it. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned however, they can also help you track when your following payments are due.
The dashboard allows you to fully view the total sales tax within your company. You can also export your data as a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but all things related to sales tax. Check out their guides, webinars, and blog for more details. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan will be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for different from the basic features Professional may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Sales Tax By Address
But they did state that this plan is tailor-fit for each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy 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
- 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 that have numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar Sales Tax By Address
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary 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. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Sales Tax By Address
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar determines the tax.