Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant making it yourself can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But since it’s required, we have no choice.
So what can we do about it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite lengthy but you’ll be able to assess whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Youtube TaxJar Texas
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential 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 show your key metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing them. It is up to you and your team members to finish the tax returns on time. TaxJar will only guide you on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, 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 the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let to know the amount you’ve collected however, they can also help you track when your following payment is due.
Their dashboard can also allow you to see the total sales tax for your business. It is also possible to export the data to a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things 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 is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for different from the basics, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to choose an upgrade instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrations, team members, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal how much the Premium plan will cost you. Youtube TaxJar Texas
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the pros and cons of the use of TaxJar for your business.
- There is a 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
- It offers a free trial of 30 days.
- 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
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around the subject. Youtube TaxJar Texas
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ Youtube TaxJar Texas
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate the tax.