Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant making it your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Texas Fba Locations
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales tax requirements. 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 a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses 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 is compatible along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on how to handle these. It is up for you and your team members to complete everything on time. TaxJar is there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as data.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. They not only let you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax in your business. You can also export the information as the form of a CSV file if you need it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
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 when you need them when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their guides, webinars, and blog for more details. In addition, their sales tax calculator should be 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 capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basic features Professional might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to 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. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose an upgrade instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Texas Fba Locations
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your head around the subject. TaxJar Texas Fba Locations
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Texas Fba Locations
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar determines the tax.