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 accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to hire an accountant, doing it on yourself can be risky. If you overlook one thing, you might have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. While this is a long read, you should be able to assess whether TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Sales Tax By State By Origin Basd
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax platform is compatible with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to manage the tax returns. It is up to you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process it. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there you and your team will have access to everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to see the total sales tax in your business. Additionally, you can export your data as a CSV file if you need it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often 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: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company owner, this plan could be ideal for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
How different is it from the basic 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 the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Sales Tax By State By Origin Basd
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will help you meet the deadlines you set. It’s also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Sales Tax By State By Origin Basd
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Sales Tax By State By Origin Basd
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar will calculate your tax.