Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford enough money to employ an accountant, doing it on yourself can be risky. If you miss one detail, you might have to redo things again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? Virginia Sales Tax TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting system perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, it will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is there to provide guidance on what you have to do but not handle 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 any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team will have access to all the information you need, like the list of transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. You can also export your data as a CSV file in case you require it to aid in accounting and financial planning processes or if you require it to run centralized reports.
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’re when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides as well as their blog to find more details. In addition the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something different from the basics Professional could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their support 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 own a huge enterprise, you may want to opt for the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal how much the Premium plan will cost you. Virginia Sales Tax TaxJar
However, they did say that this plan is customized for each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- 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
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It is also a great option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can certainly help you to get your head around it. Virginia Sales Tax TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete, you might be better off doing it by yourself.
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FAQ Virginia Sales Tax TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.
