Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not 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 budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. Although this is quite a long read it is possible to gauge whether TaxJar is what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Utah
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key data in one location. So, there’s no requirement to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage them. However, it will be up for you and your team members to complete the process on time. TaxJar is there to help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports, and data.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. Additionally, you can export the information to the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have for other operating costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally their sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for different from the basics Professional could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal how much the Premium plan will cost you. TaxJar Utah
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to see whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy 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
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar Utah
If handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Utah
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.
