Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant doing it on your own could be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. While this is a long read, you should be able to determine if TaxJar is what you need 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 review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Amazon Amnesty
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only 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 this help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one place. This means that there is no requirement to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage these. But, it is up for you and your staff to complete everything within the timeframe. TaxJar is there to help you understand 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 the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with 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, as well as the data.
The greatest benefit of this option is the fact that it lets you to update automatically every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals in your business. It is also possible to export the information in a CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also everything related to sales tax. You can check out their guides, webinars, or blog posts for additional details. In addition, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It comes with sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get a bit more than just the basics and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Amazon Amnesty
But they did state that this plan is customized for each user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- 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 have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you should try this.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It is also a great opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Amazon Amnesty
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Amazon Amnesty
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with 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 USdollars. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate the tax.