Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to engage an accountant performing the task on yourself can be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is lengthy but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Virginia Sales Tax Permit
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. 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 makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting platform is compatible with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your critical data in one location. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. For this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to manage the tax returns. It is up to you and your team to complete everything within the timeframe. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports and information.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only can they help you know how much you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the information as a CSV file in case you require it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials not only for their platform but all things connected to sales tax. Check out their webinars, guides or blog posts for additional details. Apart from that the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish 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 structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose premium plans instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Virginia Sales Tax Permit
But they did state that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated 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 be able to access the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around the subject. TaxJar Virginia Sales Tax Permit
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Virginia Sales Tax Permit
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar will calculate your tax.