Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant doing it on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar States Do Not Create Texus
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is that your accounting tax system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar, and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to handle them. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, as well as the data.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows you to see the total sales tax in your business. It is also possible to export the data in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also for anything related to sales tax. You can look through their webinars, guides, and blog for more details. In addition their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller company manager, the plan should be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the basic features Professional could be the one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members as well as AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge the price of the Premium plan. costs you. TaxJar States Do Not Create Texus
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet your deadlines. It’s also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around the subject. TaxJar States Do Not Create Texus
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar States Do Not Create Texus
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync 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 cannot convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar determines the tax.