Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, doing it on your own could be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? 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, let’s get right into it.
What exactly is TaxJar? Ebay TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. That way, there’s no requirement to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to handle these. It is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax in your business. Additionally, you can export the data to a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have to cover other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also all things connected to sales tax. You can check out their webinars, guides or blog posts for additional information. In addition the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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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 your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale company owner, this plan could be ideal for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
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’s priced at $99 however, it could go up when you add additional features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team users as well as AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan is going to cost. Ebay TaxJar
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize we’ll go over 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 save 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 is possible to integrate it with other platforms
- You can track several sales channels
Cons
- 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 to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax regulations, this will surely help you wrap your head around it. Ebay TaxJar
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ Ebay TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.
