Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford enough money to employ an accountant, making it your own could be dangerous. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can help you. While this is a long read it is possible to assess whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar Amazon Fulfillment Center TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on how to handle these. But, it is up for you and your staff to complete the process on time. TaxJar will only guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales taxes to recording and processing it. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease 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 team can access everything you require, including the list of transactions, reports and information.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. It is also possible to export your data as a CSV file if you need it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials not only on their platform, but all things that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business owner, this plan could be ideal for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for different from the basics Professional might be the right one for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to go for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal how much the Premium plan is going to cost. Amazon Fulfillment Center TaxJar
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your company.
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 a 30-day free trial. 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 must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce 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
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you do, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will surely help you wrap your head around the subject. Amazon Fulfillment Center TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ Amazon Fulfillment Center TaxJar
What areas does TaxJar provide API support?
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 sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar determines your tax.