Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, doing it on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But since it’s required 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 assist you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Texas State Sales
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized 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 ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is your tax-reporting software is compatible with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. That way, there’s no requirement to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, then the system will do all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to manage them. It is up for you and your team members to complete everything in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating taxes on sales in order to record and process them. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to update automatically every day. They not only let you know how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the total sales tax for your business. Additionally, you can export the data as the form of a CSV file if you need it in your accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but everything that has to do with sales tax. Check out their webinars, guides and blog for more info. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan to help you in filing and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business owner, this plan should be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get different from the basics, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Texas State Sales
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your business.
Free Trial
Luckily, you don’t have to risk your money 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. This should be enough time to see if the platform is a good fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to help you track your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Texas State Sales
If handling your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better in doing it all on your own.
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FAQ TaxJar Texas State Sales
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate 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 does not convert currency values. All of the transactions are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar will calculate your tax.
