Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to engage an accountant making it your own could be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to avoid 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 with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. While this is an extensive read but you’ll be able to determine if TaxJar is the tool you require right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar How Do I Connect TaxJar To Amazon
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is to integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on managing these. However, it will be up to you and your team to complete everything within the timeframe. TaxJar will only guide you on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports, as well as data.
The most appealing aspect of this feature is that it allows you to update automatically every day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax within your company. You can also export your data in CSV format. CSV file if you need it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most effective plan to help you with filing requirements or reporting. It includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small company manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to opt for an upgrade instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal how much the Premium plan costs you. How Do I Connect TaxJar To Amazon
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to see whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your head around the subject. How Do I Connect TaxJar To Amazon
But if handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete, you might be better off doing it on your own.
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FAQ How Do I Connect TaxJar To Amazon
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar determines your tax.
