Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to engage an accountant doing it on your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required 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 explain how it can help you. Even though this is an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? List Of Amazon Warehouses TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting software perfectly integrates with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. This means that there is no requirement to collect data in multiple channels and sort it into one platform. All you have to do is integrate TaxJar, it will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In this review, we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage these. It is up for you and your team to finish the tax returns in time. TaxJar will only help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team can access everything you need, such as a list of your transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve collected, but they also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. It is also possible to export your data in CSV format. CSV file if you need it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional details. Additionally their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. It’s priced at $99 however, it could go up 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 their support via phone 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 enterprise, you may want to go for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team users and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. List Of Amazon Warehouses TaxJar
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to aid in tracking your revenue and products however, it will assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your head around it. List Of Amazon Warehouses TaxJar
If handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better to do it by yourself.
FAQ List Of Amazon Warehouses TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar determines your tax.