Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, performing the task on your own could be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with 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 explain how it can help you. While this is an extensive read, you should be able to determine if TaxJar is what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Washington State
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your critical data in one location. This means that there is no requirement to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you choose 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 TaxJar will train you on managing them. However, it will be up for you and your team members to complete everything on time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export your data to CSV format. CSV file if you need it for your financial planning and accounting processes or if your team requires 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 scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. You can look through their webinars, guides, and blog for more info. Apart from that their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan could be ideal for you. It may not offer all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get that is more than the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to choose premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users as well as AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Washington State
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business however, it will assist you in meeting your deadlines. It is also a great option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you save more time while keeping track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your head around it. TaxJar Washington State
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
FAQ TaxJar Washington State
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect 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 doesn’t convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar determines your tax.