Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to engage an accountant doing it on your own could be risky. If you make a mistake, 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.
So what can we do about it?
We can always make our lives easier with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is a long read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? Sales Tax In Tx TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that 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 as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to make their business more neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. That way, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on managing them. It is up to you and your team members to complete the process in time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff will have access to everything you need, like the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help to know the amount you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export the information as the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything related to sales tax. Check out their guides, webinars, and blog for more info. Apart from that, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact the support team via their email support chart. You’ll also 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. The price starts at $99 however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for premium plans instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Sales Tax In Tx TaxJar
But they did state that this plan is tailor-fit for every user. So the costs will vary depending on what you need for your company.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not 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 is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If that’s what you do, then you ought to try this.
Not only can it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using 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 will surely help you wrap your head around the subject. Sales Tax In Tx TaxJar
If handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do, you might be better in doing it all on your own.
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FAQ Sales Tax In Tx TaxJar
What areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.
