Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to hire an accountant, performing the task on your own can be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. While this is a long read it is possible to assess whether TaxJar is what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Wyoming
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax software is compatible along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle the tax returns. However, it will be up to you and your staff to complete everything on time. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team can access everything you require, including a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. You can also export the information in a CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their guides, webinars, and blog for more info. Additionally, their sales tax calculator can be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business manager, the plan should be ideal for you. It might not include all the features offered by 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 be able to use their integration tools.
Professional
If you’re looking for something that is more than the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Wyoming
However, they did mention that this plan is customized to each user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up, here are the pros and cons of using TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple 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
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only can it help you track your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Wyoming
If handling your taxes is simple, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of 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 by yourself.
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FAQ TaxJar Wyoming
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar can calculate your tax.
