Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the budget to engage an accountant doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar What Is The Tax Rate For Tennessee
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as 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.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In our review we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income, 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 will only provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as the list of transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you know how much you’ve accumulated however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. It is also possible to export your data as the form of a CSV file if you need it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. 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 exactly 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 all things related to sales tax. You can look through their webinars, guides, and blog for more information. Additionally the sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with 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 tips.
If you’re a small company owner, this plan should be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get a bit more than just the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members, and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar What Is The Tax Rate For Tennessee
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of using TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy 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
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to help you track your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar will help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar What Is The Tax Rate For Tennessee
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ TaxJar What Is The Tax Rate For Tennessee
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like 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 to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar can calculate the tax.
