Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to skip 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 simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to gauge whether TaxJar is the tool you require right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar Amazon And TaxJar Figures Don’T Match
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting software perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on how to handle these. However, it will be up for you and your staff to complete the process in time. TaxJar will only provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales tax to recording and processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, like a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. It is also possible to export your data in a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional information. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the standard features Professional may be the best option for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Amazon And TaxJar Figures Don’T Match
However, they did say that the plan is custom-made for every user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
Not only will it aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your mind around it. Amazon And TaxJar Figures Don’T Match
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do then you’re better in doing it all on your own.
FAQ Amazon And TaxJar Figures Don’T Match
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to US$ before TaxJar determines your tax.