Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Check out 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, then let’s get right into it.
What exactly is TaxJar? TaxJar Set Up State Filing
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to 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.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. So, there’s no need to collect data in multiple channels and organize it into a single platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. In our review we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up to you and your team to complete the process on time. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With 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 choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports and data.
The best part about this feature is that it allows you to automatically update every day. Not only can they help you know how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. You can also export your data as a CSV file if you need it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also everything related to sales tax. You can look through their webinars, guides and blog for more details. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company owner, this plan should be perfect for you. It may not have all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the basic features, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team users, and AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Set Up State Filing
But they did state that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it help you track your products and revenue It can 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 learn from their sessions regarding taxes via it.
Using TaxJar will help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this can certainly help you to get your head around it. TaxJar Set Up State Filing
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have 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 in doing it all on your own.
FAQ TaxJar Set Up State Filing
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync 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 cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar can calculate the tax.