Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. While this is a long read it is possible to assess whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Amazon Seller Forums TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few 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 online business owners to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar it will take care of 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 allows clients to submit their sales tax manually or through their AutoFile feature. For this review, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on managing the tax returns. But, it is up to you and your staff to finish the tax returns on time. TaxJar is there to guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be additional charges if they are 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 a single dashboard through this platform. From there, you and your team will have access to all the information you require, including an inventory of your transactions, reports and data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export the data in a CSV file if you need it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents when you need them in the event of a need. Even if you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operational costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can look through their guides, webinars, or blog posts for additional info. In addition their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish 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 tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller business manager, the plan should be perfect for you. It may not have all the features of 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 be able to use their integration capabilities.
If you’re looking to get a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to go for an upgrade instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. costs you. Amazon Seller Forums TaxJar
But they did state that this plan is customized for every user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into different options, they offer 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
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only will it aid in tracking your products and revenue, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around the subject. Amazon Seller Forums TaxJar
However, if managing taxes is easy, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ Amazon Seller Forums TaxJar
Which areas does 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 together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate your tax.