Taxes have always been among the most difficult things to handle 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 your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be dangerous. If you miss one detail it could mean you have to redo things again!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite a long read it is possible to determine if TaxJar is the tool you require right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Sales Tax Registration
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your critical metrics in one place. This means that there is no need to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up for you and your staff to complete everything within the timeframe. TaxJar will only help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the data in CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional information. In addition their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small company manager, the plan will be ideal for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basic features, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to opt for an upgrade instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Sales Tax Registration
However, they did say that this plan is customized for each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce 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 can be integrated 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 valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, 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 you ought to try this.
Not only will it help you track your products and revenue It can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will certainly help you to get your head around it. TaxJar Sales Tax Registration
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find 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 Registration
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.