Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Filing Taxes In Texas
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical data in one location. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar, and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on how to handle the tax returns. It is up for you and your team members to complete everything on time. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports and data.
The most appealing aspect of this feature is that it allows you to update automatically every day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. It is also possible to export the data to the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides and blog for more info. Apart from that their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most effective plan to help you in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan should be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the basics and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
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 help with your taxes. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Filing Taxes In Texas
However, they did mention that this plan is customized for every user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
- There is the 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 simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only can it help you track your revenue and products It can also help you meet your deadlines. It’s also an excellent option for accountants as they have the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Filing Taxes In Texas
If handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete then you’re better off doing it by yourself.
FAQ TaxJar Filing Taxes In Texas
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar can calculate your tax.