Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have enough money to engage an accountant doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
So what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar State Filing
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. 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 your sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. For our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on managing the tax returns. But, it is up for you and your team members to complete everything within the timeframe. TaxJar is only there to provide guidance on what you have to 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 the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as the list of transactions, reports, as well as data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let you know how much you’ve earned however, they can also help you determine when your next payments are due.
The dashboard allows you to see the total sales tax 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 you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally, their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get different from the basics Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited data import integrations, API integrationsfor team users and AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar State Filing
But they did state that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service 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. This should be enough time to determine whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar State Filing
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar State Filing
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.
