Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Wisconsin Sales Tax
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in 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 just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle these. It is up to you and your team members to complete everything in time. TaxJar is only there to provide guidance on what you need to do but not 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. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team will have access to everything you need, such as an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let to know the amount you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. Additionally, you can export the information to a CSV file if you need it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. In addition their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something that is more than the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to choose the Premium plan instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Wisconsin Sales Tax
However, they did mention that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to see whether the software is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce 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
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not 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 laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then should try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your mind around it. TaxJar Wisconsin Sales Tax
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole 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 Wisconsin Sales Tax
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.
