Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant doing it on your own could be risky. If you miss one detail it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. While this is an extensive read it is possible to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Sales Tax Utah
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting system is compatible with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important metrics in one place. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle the tax returns. It is up to you and your staff to complete everything on time. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. All orders made through 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 require, including a list of your transactions, reports, and the data.
The greatest benefit of this feature is that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax in your business. Additionally, you can export the information to the form of a CSV file, if you want to use it for your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but all things connected to sales tax. Check out their webinars, guides, as well as their blog to find more details. In addition the sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features 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 something different from the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Sales Tax Utah
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your revenue and products however, it will help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Sales Tax Utah
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete then you’re better in doing it all by yourself.
FAQ TaxJar Sales Tax Utah
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate the tax.