Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to engage an accountant doing it on yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Are you looking to watch videos instead? 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, let’s get right into it.
What is TaxJar Link TaxJar With Amazon Mexico
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting platform perfectly integrates with your sales channel. If you’re using 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 overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle them. However, it will be up to you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, 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 select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, such as the list of transactions, reports and data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. They not only let you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. You can also export your data to the form of a CSV file in case you require it in 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 hunt for your paperwork when you need them in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to go for premium plans instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan is going to cost. Link TaxJar With Amazon Mexico
But they did state that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To summarize, here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is 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 review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. Link TaxJar With Amazon Mexico
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ Link TaxJar With Amazon Mexico
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate your tax.