Taxes have always been one of 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 accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. While this is lengthy it is possible to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar? Utah Sales TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system is compatible along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. 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. That way, there’s no need to collect information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on how to handle the tax returns. However, it will be up to you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you need, like the list of transactions, reports, as well as information.
The most appealing aspect 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 accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the information in CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. Check out their guides, webinars, and blog for more information. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb 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 levels and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program should be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for a bit more than just the basics, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to go for premium plans instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Utah Sales TaxJar
However, they did say that this plan is tailor-fit for every user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
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 advantages and disadvantages of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple 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 applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
Not only can it help you track your products and revenue It can help you meet the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. Utah Sales TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete then you’re better to do it on your own.
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FAQ Utah Sales TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar determines the tax.
