Taxes are always one of the hardest things to do regardless of whether you run your own 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 the funds to engage an accountant performing the task on 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. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Texas Sales Tax
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. In this review, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on how to handle them. However, it will be up to you and your team to complete everything in time. TaxJar is only 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 for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your team will have access to all the information you require, including a list of your transactions, reports, and information.
The best part about this option is the fact that it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the total sales tax within your company. Additionally, you can export your data to CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can check out their webinars, guides and blog for more information. In addition, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most effective plan to help you in filing and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the basic features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to choose premium plans instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrationsfor team users, and AutoFiles.
They also have a staff who are devoted to managing your account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Texas Sales Tax
However, they did mention that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you should try this.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and requirement you have 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 Texas Sales Tax
However, if managing taxes is easy, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do, you might be better in doing it all by yourself.
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FAQ TaxJar Texas Sales Tax
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar will calculate the tax.
