Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, making it your own could be dangerous. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? How To Link Amazon To TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s look into their features and services.
Features and services
One of the first things you’ll want to check is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must 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 key metrics in one place. That way, there’s no requirement to collect information from multiple sources and organize it into one platform. All you need to do is connect TaxJar then the system will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through their 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. Once the time comes for filing income tax returns, the team will instruct you on managing these. However, it will be up for you and your staff to finish the tax returns on time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, such as a list of your transactions, reports and data.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. You can also export the information as a CSV file if you need it to aid in financial planning and accounting processes 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. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials not only on their platform, but everything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional info. In addition the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something different from the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose an upgrade instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrations, team users and AutoFiles.
There is also a team who are devoted to managing your account. But, they don’t divulge the price of the Premium plan. costs you. How To Link Amazon To TaxJar
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it to determine if this service 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 be enough time to gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business It can also help you meet your deadlines. It is also a great platform for an accountant 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 save more time while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. How To Link Amazon To TaxJar
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ How To Link Amazon To TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify 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 cannot convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar can calculate the tax.