Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to employ an accountant, making it your own could be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. While this is a long read, you should be able to assess whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Wisconsin
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one place. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on managing the tax returns. However, it will be up for you and your team members to complete the process on time. TaxJar is there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating sales taxes to recording and processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. Additionally, you can export the data as the form of a CSV file if you need it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but all things that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. 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: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small business owner, this plan could be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the basic features, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data, API integrations, team members and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan costs you. TaxJar Wisconsin
However, they did mention that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has 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.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you should try this.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Wisconsin
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar Wisconsin
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, 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.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate your tax.
