Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, making it yourself can be dangerous. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. While this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Amazon Fba
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your critical data in one location. So, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. For this review, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income The team will guide you on managing them. It is up for you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as information.
The best part about this feature is that it allows you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the overall sales taxes for your business. It is also possible to export the data in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but all things that has to do with sales tax. You can look through their guides, webinars, and blog for more info. Additionally, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company owner, this plan could be ideal for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to opt for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrations, team users and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan will cost you. TaxJar Amazon Fba
But they did state that this plan is customized to each user. So the costs will vary depending on what you need for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is the right choice for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- 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
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it help you track your products and revenue It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar Amazon Fba
But if handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Amazon Fba
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect 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 are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate the tax.
