Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant making it yourself can be risky. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to determine if TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar California Sales Tax Amazon TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting platform is compatible with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar, it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns The team will guide you on how to manage them. It is up to you and your team members to complete everything in time. TaxJar will only help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales taxes to recording and processing it. However, there might be additional costs if the feature is not included in the plan you choose.
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 combined into a single dashboard through this platform. From there, you and your team can access everything you need, like the list of transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let to know the amount you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to see the overall sales taxes within your company. You can also export the information in the form of a CSV file if you need it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be perfect 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 their customer support via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the basic features Professional may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrationsfor team members, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. California Sales Tax Amazon TaxJar
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. To sum it all up, here are the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then should try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. California Sales Tax Amazon TaxJar
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
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FAQ California Sales Tax Amazon TaxJar
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.
