Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it your own could be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar States Tax
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. In our review we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to manage the tax returns. But, it is up to you and your team members to complete everything on time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales tax to recording and processing them. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, and the data.
The best part about the feature you’ve chosen is it lets 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 keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals for your business. Additionally, you can export your data in the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. 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 set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It also includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program will be perfect for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the standard features Professional may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team members, and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar States Tax
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track 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 valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue however, it will also help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar States Tax
But if handling your taxes is simple and 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 all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it by yourself.
FAQ TaxJar States Tax
Which areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.