Taxes have always been one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to employ an accountant, making it your own could be risky. If you miss one detail, you might need to repeat the process!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite lengthy, you should be able to assess whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Sales Tax Rate Lookup
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to handle them. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you require, including the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. You can also export the information to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you in filing and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for different from the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up if you add custom features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Sales Tax Rate Lookup
However, they did mention that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of 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 the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. TaxJar Sales Tax Rate Lookup
But if handling taxes is easy, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Sales Tax Rate Lookup
Which 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 integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar can calculate the tax.