Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly 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, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Even though this is an extensive read it is possible to gauge whether TaxJar is the tool you require today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? Tx Salkes Tax TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to handle them. However, it will be up to you and your team members to finish the tax returns on time. TaxJar is there to help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, like an inventory of your transactions, reports, and data.
The greatest benefit 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 collected however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the overall sales taxes within your company. You can also export your data as the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program could be perfect for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the basics Professional may be the best option for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose premium plans instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Tx Salkes Tax TaxJar
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
Luckily, 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 different options, they offer a 30-day free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has 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.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your mind around it. Tx Salkes Tax TaxJar
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ Tx Salkes Tax TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate your tax.