Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. While this is a long read it is possible to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? TaxJar South Carolina
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns The team will guide you on managing the tax returns. But, it is up to you and your staff to finish the tax returns on time. TaxJar will only guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. Additionally, you can export the information as CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything related to sales tax. Check out their webinars, guides and blog for more details. Apart from that the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
In addition to accessing 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 needed to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar South Carolina
However, they did say that the plan is custom-made for each user. So the costs will vary in line with what you require to run your business.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor 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 valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar South Carolina
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow then you’re better to do it by yourself.
FAQ TaxJar South Carolina
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar determines your tax.