Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to engage an accountant doing it on yourself can be dangerous. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. Even though this is an extensive read, you should be able to assess whether TaxJar is what you need in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar Filing Texas Sales And Use Tax TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar it will take care of the rest.
Apart from that, 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:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage them. But, it is up for you and your team to complete everything within the timeframe. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales tax to recording and processing it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals in your business. Additionally, you can export your data in a CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but everything that has to do with sales tax. Check out their guides, webinars, and blog for more details. In addition, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan should be ideal for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of users and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Filing Texas Sales And Use Tax TaxJar
However, they did say that this plan is customized to each user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- 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
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it help you track your products and revenue however, it will also help you meet your deadlines. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. Filing Texas Sales And Use Tax TaxJar
But if handling your taxes is straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ Filing Texas Sales And Use Tax TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar can calculate the tax.
