Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a background in accounting or finance. 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 budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Even though this is an extensive read, you should be able to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Texas
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to collect information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar then the system will handle 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 customers to submit their sales tax manually or through their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on managing the tax returns. But, it is up for you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With 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 part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team can access everything you require, including the list of transactions, reports and data.
The most appealing aspect of this feature is that it lets you to automatically update every day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export the information in CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It might not include all of TaxJar’s features but it comes with 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 to get different from the basic features Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to accessing each 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 get 12 AutoFiles for free each year.
If you run a large business, you might need to choose the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Texas
However, they did mention that this plan is customized for every user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is the right one 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 if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- 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.
- Allows you to track 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
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it help you track your products and revenue It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your mind around it. TaxJar Texas
But if handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the whole process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Texas
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.