Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to employ an accountant, doing it on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can assist you. While this is a long read, you should be able to gauge whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar How To Submit A Sales Tax Return In Texas With TaxJar
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is connect TaxJar, then the system will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For this review, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to handle these. It is up for you and your team members to complete the process in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage 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 all forms by hand. This feature will ensure that everything is automated, from calculating sales tax to recording and processing it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to everything you need, such as the list of transactions, reports, as well as information.
The best part about this option is the fact that they allow you to automatically update every day. They not only let you keep track of how much you’ve earned however, they can also help you track when your following payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. You can also export the data in a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. Check out their webinars, guides, or blog posts for additional details. In addition the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with sales tax reporting, 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basic features Professional could be the one for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the starter 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, API access, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. How To Submit A Sales Tax Return In Texas With TaxJar
But they did state that this plan is customized for each user. So the costs will vary depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is the right choice for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this can definitely help you get your head around the subject. How To Submit A Sales Tax Return In Texas With TaxJar
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do then you’re better to do it by yourself.
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FAQ How To Submit A Sales Tax Return In Texas With TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with 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 currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it into US$ before TaxJar can calculate the tax.
