Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have enough money to employ an accountant, performing the task on yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. Although this is quite lengthy it is possible to gauge whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? TaxJar South Carolina Sales Tax
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For this review, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage the tax returns. It is up to you and your staff to complete the process on time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you require, including the list of transactions, reports, as well as information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only will they let you keep track of 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 sales tax totals in your business. It is also possible to export your data to a CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to search for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides as well as their blog to find more information. In addition the sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It may not have all the features of TaxJar but it comes with all the basics you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basics Professional may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge company, you may need to go for the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team users as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar South Carolina Sales Tax
However, they did say that this plan is tailor-fit for every user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on 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 out TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. It’s also an excellent option for accountants as they have a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you save more time while keeping track of every 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 head around the subject. TaxJar South Carolina Sales Tax
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar South Carolina Sales Tax
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar can calculate your tax.