Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage an accountant making it yourself can be dangerous. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is a long read it is possible to assess whether TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? West Virginia Sales Tax Nexus TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect data from different channels and sort it into one platform. All you need to do is connect TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar will only guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process it. There could be extra fees if not included 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. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, such as an inventory of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to see the total sales tax within your company. You can also export the data to CSV format. CSV file if you need it to aid in process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides or blog posts for additional details. Additionally their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basics and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for premium plans instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited data import integrations, API integrationsfor team users and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. West Virginia Sales Tax Nexus TaxJar
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue, but it can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this can definitely help you get your head around the subject. West Virginia Sales Tax Nexus TaxJar
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
FAQ West Virginia Sales Tax Nexus TaxJar
What areas does 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 connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any 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 will need to convert it into USUSD before TaxJar can calculate your tax.