Taxes have always been among the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the funds to engage an accountant performing the task on your own could be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. While this is an extensive read but you’ll be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar South Dakota Sales Tax
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure compliance with sales taxes. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is integrate TaxJar and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up for you and your staff to complete everything on time. TaxJar is only there to guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax to recording and processing them. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to everything you need, such as the list of 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 know how much you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export the data to the form of a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional details. Additionally their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan could be ideal for you. It might not include all the features of TaxJar but it comes with the basic features you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the basics Professional could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for premium plans instead. It includes all of the features you need to help with your taxes. Moreover, they allow unlimited data import integrations as well as API integrations, team users and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. TaxJar South Dakota Sales Tax
However, they did say that this plan is customized for each user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can 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
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes many platforms. If that’s what you do, then you should try this.
Not only can it assist you in keeping track of the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar South Dakota Sales Tax
If handling your taxes is simple, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure simple to follow, you might be better to do it on your own.
FAQ TaxJar South Dakota Sales Tax
Which areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines the tax.