Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. In the event that you do not have enough money to hire an accountant, doing it on yourself can be risky. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make our lives easier 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 an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
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.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar Amazon Fba Sales Tax
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar and the platform 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 the platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns, the team will instruct you on managing the tax returns. However, it will be up to you and your staff to complete everything on time. TaxJar is 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 don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce 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 need, such as the list of transactions, reports, as well as the data.
The most appealing aspect of this feature is that they allow you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export the information as CSV format. CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything connected to sales tax. Check out their guides, webinars, and blog for more details. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program should 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 the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basics, then the Professional plan could be the one for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to opt for an upgrade instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Amazon Fba Sales Tax
However, they did say that this plan is customized to each user. So the costs will vary according to what you require for your company.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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 valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can 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 gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Amazon Fba Sales Tax
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Amazon Fba Sales Tax
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar determines your tax.