Taxes are always one of the most difficult things to handle 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 packed with things to do. When you’re not able to afford the funds to engage an accountant doing it on your own could be dangerous. If you miss one detail it could mean you have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. While this is an extensive read it is possible to gauge whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar Wayfair Sales Tax TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar has been utilized 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 widely used by owners of online businesses to keep everything neat and simple. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on managing these. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales tax to recording and processing it. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, like a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you keep track of 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 you to fully view the sales tax totals for your business. It is also possible to export the data as the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just on their platform, but everything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more information. In addition their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be perfect for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to go for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrations, team members and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. Wayfair Sales Tax TaxJar
But they did state that the plan is custom-made for each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
- There is 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 simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will definitely help you get your head around the subject. Wayfair Sales Tax TaxJar
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ Wayfair Sales Tax TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate your tax.