Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to hire an accountant, making it your own can be dangerous. If you make a mistake, you might have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is a long read, you should be able to determine if TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar State Commission
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you have 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 highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. In this review, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from 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 need, such as the list of transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let to know the amount you’ve earned, but they also help you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. You can also export your data as the form of a CSV file if you need it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to scramble for your documents when you need them in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform but all things related to sales tax. Check out their webinars, guides or blog posts for additional info. Apart from that their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the basics Professional might be the right one for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for an upgrade instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. TaxJar State Commission
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right 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 determine whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to help you track the sales and profits of your business however, it will assist you in meeting your deadlines. This is also an excellent option for accountants as they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this will surely help you wrap your mind around it. TaxJar State Commission
But if handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar State Commission
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar can calculate the tax.