Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have enough money to engage an accountant performing the task on your own can be dangerous. If you miss one detail, you might 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 is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Even though this is lengthy, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar 3Rd Party Amazon Sellers Account 2021
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. It is up for you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With 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 costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via 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, and data.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to fully view the sales tax totals within your company. You can also export your data to a CSV file if you need it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have 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 check out their webinars, guides, and blog for more details. Apart from that their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the basic features Professional could be the one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team users and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar 3Rd Party Amazon Sellers Account 2021
But they did state that the plan is custom-made for every user. The cost of the plan will be different in line with what you require for your company.
It’s a good thing that you don’t have 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 a 30-day free trial. This should give you enough time to gauge if the platform is an excellent fit 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 we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your products and revenue It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar 3Rd Party Amazon Sellers Account 2021
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete then you’re better to do it by yourself.
FAQ TaxJar 3Rd Party Amazon Sellers Account 2021
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.