Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re full of things to be done. If you don’t have enough money to engage an accountant making it yourself can be risky. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar? Fulfillment Centers Amazon TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting software seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on managing the tax returns. However, it will be up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales taxes to recording and processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and the data.
The best part about this feature is that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to fully view the total sales tax in your business. It is also possible to export the data in a CSV file in case you require it in your accounting and financial planning processes or if you require 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 hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. Check out their webinars, guides and blog for more details. Additionally their sales tax calculator can be helpful if you’re planning on complete everything 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 the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business owner, this plan will be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for different from the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to go for an upgrade instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrations, team members and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. Fulfillment Centers Amazon TaxJar
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to 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 valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to aid in tracking the sales and profits of your business It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around the subject. Fulfillment Centers Amazon TaxJar
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole process easy to do then you’re better off doing it by yourself.
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FAQ Fulfillment Centers Amazon TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines your tax.
