Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have the budget to hire an accountant, making it your own could be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. While this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar State By State Supplements Taxable
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all 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 just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax platform is compatible along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on how to manage these. But, it is up to you and your staff to complete the process on time. TaxJar will only guide you on what you should do but not handle 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 taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you require, including a list of your transactions, reports and the data.
The most appealing aspect of this feature is that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. Additionally, you can export the information as CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things related to sales tax. Check out their guides, webinars, and blog for more details. In addition, their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. 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. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business proprietor, then this program should be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the basics and options, then the Professional plan might be the right one for you. It starts 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 all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the amount that the Premium plan will cost you. TaxJar State By State Supplements Taxable
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a break. 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 can help you save time
- Available in most USA states
- Provides an online sales tax 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar State By State Supplements Taxable
However, if managing your taxes is straightforward, 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. In addition, if you find the whole procedure simple to follow, you might be better to do it on your own.
FAQ TaxJar State By State Supplements Taxable
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar can calculate your tax.