Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
We can make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is the tool you require in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Add Texas Sales Permit To Amazon
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your critical metrics in one place. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team can access everything you require, including an inventory of your transactions, reports and the data.
The best part about this option is the fact that they allow you to update automatically every day. Not only can they help to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows users to view in detail the sales tax totals in your business. Additionally, you can export the information 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 for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but all things that has to do with sales tax. You can look through their webinars, guides or blog posts for additional information. In addition, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It might not include all the features of TaxJar but it comes with the basic features you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for different from the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports API integrations, team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Add Texas Sales Permit To Amazon
But they did state that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- 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
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Add Texas Sales Permit To Amazon
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Add Texas Sales Permit To Amazon
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.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.