Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on your own could be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar How To Register In Texas
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check is your tax-reporting platform perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. For this review, we’ll dig at both.
If you choose 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 managing them. It is up to you and your team members to complete everything on time. TaxJar is only there to guide you on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports, as well as information.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. Additionally, you can export the data as CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be ideal for you. It might not include all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for different from the basics, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for premium plans instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar How To Register In Texas
However, they did say that this plan is customized to each user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then should try this.
Not only can it aid in tracking the sales and profits of your business, but it can help you meet your deadlines. It is also a great platform for an accountant since they have tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar How To Register In Texas
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ TaxJar How To Register In Texas
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate your tax.