Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a background 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 employ an accountant, performing the task on your own can be risky. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Tennessee Sales Tax
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on managing the tax returns. However, it will be up to you and your staff to finish the tax returns on time. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team can access everything you need, such as the list of transactions, reports, and information.
The best part about this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals for your business. Additionally, you can export the information as a CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything connected to sales tax. Check out their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator should be useful if you’re planning to do everything on your own.
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 your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan could be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get different from the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
In addition to accessing 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 have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for an upgrade instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of users as well as AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Tennessee Sales Tax
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated 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 valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you should try this.
Not only can it help you track your revenue and products It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you get more done while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Tennessee Sales Tax
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar Tennessee Sales Tax
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar determines your tax.