Taxes have always been among the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have enough money to employ an accountant, making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. While this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar Why Doesnt Maine Appear On TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar, then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to handle them. But, it is up for you and your team to complete the process in time. TaxJar is there to help you understand what you should do , but not to 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. Through this feature, everything is automated, from calculating taxes on sales in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you choose.
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 one dashboard using this platform. From there, you and your team can access everything you need, like the list of transactions, reports and the data.
The greatest benefit of this feature is that it allows you to update your account automatically each day. They not only 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 also allows you to see the total sales tax in your business. You can also export your data as CSV format. CSV file if you need it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents when you need them in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator should 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 the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business owner, this plan should be ideal for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for a bit more than just the basic features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as API integrations, team users, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. Why Doesnt Maine Appear On TaxJar
However, they did say that this plan is customized for each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. 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 a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue however, it will help you meet the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. Why Doesnt Maine Appear On TaxJar
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do, you might be better to do it by yourself.
FAQ Why Doesnt Maine Appear On TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate your tax.