Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it your own could be risky. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. Although this is quite an extensive read, you should be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? How Long Does TaxJar Take To Import Sales Data From Amazon
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your most important data in one location. So, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage them. However, it will be up for you and your team members to finish the tax returns on time. TaxJar will only provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you require, including a list of your transactions, reports, and data.
The best part about this feature is that it lets 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.
Their dashboard also allows you to see the sales tax totals for your business. You can also export the data to the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials not only on their platform, but for anything related to sales tax. Check out their guides, webinars, or blog posts for additional 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 know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan could be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to go for an upgrade instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. How Long Does TaxJar Take To Import Sales Data From Amazon
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your mind around it. How Long Does TaxJar Take To Import Sales Data From Amazon
However, if managing your taxes is straightforward If it isn’t, 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 all of it. In addition, if you’re finding the entire process easy to do then you’re better in doing it all on your own.
FAQ How Long Does TaxJar Take To Import Sales Data From Amazon
Which areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate 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 using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar can calculate the tax.