Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it yourself can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? Amazon Seller TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s explore their features and services.
Services and features
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. That way, there’s no requirement to collect data in multiple channels and organize it into a single 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 with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle them. But, it is up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax in order to record and process them. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. It is also possible to export your data in a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides and blog for more info. Additionally, their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with sales tax reporting, 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 small-scale business owner, this plan could be ideal for you. It might not include all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to go for the Premium plan instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports as well as API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. Amazon Seller TaxJar
However, they did mention that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
- There is 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 is possible to integrate it with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by 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 clearly laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this will definitely help you get your mind around it. Amazon Seller TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, 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 in doing it all by yourself.
FAQ Amazon Seller TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar can calculate your tax.