Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant making it your own could be risky. If you miss one detail, you might have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. While this is lengthy, you should be able to assess whether TaxJar is exactly what you need today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Do I Need TaxJar As A Domestic Us Amazon Seller
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. That way, there’s no need to gather data from different channels and organize it into a single platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage them. It is up for you and your staff to complete everything on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you need, such as the list of transactions, reports, as well as information.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to see the overall sales taxes within your company. Additionally, you can export the data in CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can look through their webinars, guides, or blog posts for additional details. In addition, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for different from the basics, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to choose 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 Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. Do I Need TaxJar As A Domestic Us Amazon Seller
However, they did say that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- 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 review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then should try this.
Not only can it aid in tracking your products and revenue however, it will also help you meet your deadlines. It is also a great platform for an accountant since they provide tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. Do I Need TaxJar As A Domestic Us Amazon Seller
But if handling your taxes is simple, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ Do I Need TaxJar As A Domestic Us Amazon Seller
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USdollars before TaxJar determines the tax.