Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, doing it on your own can be risky. If you make a mistake, you might need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can help you. Even though this is a long read it is possible to determine if TaxJar is exactly what you need 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 Virginia Tax Guide
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s take a look at their features and services.
Services and features
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 have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle these. But, it is up to you and your team members to finish the tax returns in time. TaxJar will only guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports, as well as data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to see the sales tax totals for your business. It is also possible to export the information in the form of a CSV file in case you require it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides or blog posts for additional info. Additionally, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to go for an upgrade instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Virginia Tax Guide
However, they did say that this plan is tailor-fit to each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- You can track several 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.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Virginia Tax Guide
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Virginia Tax Guide
What are the areas in which 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 for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar will calculate your tax.