Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on yourself can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Although this is quite a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Wyoming Sales Tax TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with your sales taxes. 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 companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll want to check is that your accounting tax platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. So, there’s no requirement to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on managing them. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, such as an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let you know how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows you to see the sales tax totals within your company. It is also possible to export the data as the form of a CSV file in case you require it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but for anything connected to sales tax. You can check out their guides, webinars, and blog for more info. In addition the sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale business manager, the plan will be ideal for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something different from the basics Professional might be the right one for you. The price starts 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 every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data API integrations, team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. Wyoming Sales Tax TaxJar
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is simple 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around it. Wyoming Sales Tax TaxJar
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Wyoming Sales Tax TaxJar
What are the areas in which 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 with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar will calculate the tax.