Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to employ an accountant, doing it on your own could be dangerous. If you make a mistake, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. While this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar Do I Need An Amazon Pro Account To Use TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could require 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 and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
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’re using multiple sales channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to gather data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage them. However, it will be up to you and your team to complete everything within the timeframe. TaxJar will only guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team can access everything you need, like an inventory of your transactions, reports and information.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only can they help you know how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. 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 accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but all things related to sales tax. You can check out their webinars, guides or blog posts for additional info. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller business proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to opt for premium plans instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. Do I Need An Amazon Pro Account To Use TaxJar
However, they did say that this plan is customized for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides 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 able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to help you track your revenue and products, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your mind around it. Do I Need An Amazon Pro Account To Use TaxJar
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
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FAQ Do I Need An Amazon Pro Account To Use TaxJar
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar will calculate your tax.
