Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant making it your own can be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? Georgia TaxJar Amazon Fulfillment
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. 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 require days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. For our review we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on how to handle them. But, it is up to you and your team to complete everything in time. TaxJar will only guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. There could be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports, and the data.
The best part about this option is the fact that they allow you to automatically update every day. Not only will they let you know how much you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. It is also possible to export the information as a CSV file in case you require it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. Check out their guides, webinars, as well as their blog to find more details. Additionally their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business owner, this plan could be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose an upgrade instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. Georgia TaxJar Amazon Fulfillment
However, they did mention that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can help you meet your deadlines. This is also an excellent option for accountants as they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this can certainly help you to get your head around it. Georgia TaxJar Amazon Fulfillment
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete, you might be better off doing it on your own.
FAQ Georgia TaxJar Amazon Fulfillment
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar can calculate your tax.