Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the funds to engage an accountant making it your own could be risky. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Even though this is lengthy, you should be able to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? Texas Sales Tax TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important data in one location. That way, there’s no need to collect data from different channels and organize it into a single platform. All you need to do is connect TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. For this review, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on managing these. It is up to you and your team members to complete everything in time. TaxJar is only there to guide you on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. You can also export the information as CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides or blog posts for additional information. In addition, their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes the tax on sales, 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 tips.
If you’re a small business manager, the plan could be ideal for you. It might not include all the features of TaxJar but it comes with the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something a bit more than just the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose the Premium plan instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. Texas Sales Tax TaxJar
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it help you track your products and revenue It can also help you meet the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax regulations, this will certainly help you to get your head around it. Texas Sales Tax TaxJar
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete, you might be better to do it on your own.
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FAQ Texas Sales Tax TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like 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 to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using 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 have to convert it to USdollars before TaxJar can calculate the tax.
