Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do ?
We can make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar Washington State Sales 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 your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on how to manage these. But, it is up for you and your team members to complete everything in time. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, such as an inventory of your transactions, reports and information.
The best part about the feature you’ve chosen is they allow you to update automatically every day. Not only will they let to know the amount you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the total sales tax for your business. Additionally, you can export the data as CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top 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.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but all things related to sales tax. Check out their webinars, guides, and blog for more info. Apart from that the sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan to help you in filing and reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the basics, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for premium plans instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team users and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Washington State Sales Tax TaxJar
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to determine if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If this sounds like the way you do, then you should try this.
Not only will it help you track your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. Washington State Sales Tax TaxJar
But if handling your taxes is straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ Washington State Sales Tax TaxJar
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with 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 doesn’t convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.