Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have the funds to engage an accountant performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is exactly what you need today.
Prefer 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.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar State Registration
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
Features and services
One of the first things you’ll want to check you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on managing these. But, it is up for you and your team to complete the process in time. TaxJar will only provide guidance on what you should 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 the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you need, like a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. They not only let you know how much you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the information in a CSV file in case you require it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature 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 know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. Additionally, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive company, you may need to opt for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, API integrations, team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar State Registration
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only will it assist you in keeping track of the sales and profits of your business It can assist you in meeting your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you save more time while keeping track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar State Registration
If handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar State Registration
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate your tax.