Taxes are always one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have enough money to employ an accountant, doing it on your own could be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can help you. Even though this is lengthy, you should be able to assess whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? Utah Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar it will do the rest.
Other than that, 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:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you choose to go it alone, 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 instruct you on how to handle the tax returns. However, it will be up to you and your team to finish the tax returns in time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to see the sales tax totals in your business. It is also possible to export the information in a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers training and tutorials not only 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 is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the basic features Professional might be the right one for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Utah Sales Tax TaxJar
However, they did say that the plan is custom-made to each user. So the costs will vary in line with what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated 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 have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. 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 on taxes by using it.
The use of TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your mind around it. Utah Sales Tax TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do then you’re better to do it by yourself.
FAQ Utah Sales Tax TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar can calculate the tax.