Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, making it yourself can be dangerous. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can help you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need in the present.
Prefer video streaming instead? Watch 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 Sync TaxJar With Amazon
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no need to collect data from different 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.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. It is up for you and your staff to complete everything within the timeframe. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you require, including an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to see the sales tax totals for your business. It is also possible to export the data as CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional details. Apart from that the sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for 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.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking to get that is more than the standard features Professional may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations API integrations, team members and AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. costs you. How To Sync TaxJar With Amazon
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of the use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what 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, but it can help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your mind around it. How To Sync TaxJar With Amazon
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure simple to follow, you might be better to do it by yourself.
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FAQ How To Sync TaxJar With Amazon
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.
