Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Amazon Fulfillment Centers
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, then the system will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to manage them. It is up for you and your staff to finish the tax returns in time. TaxJar will only guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process it. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you need, such as an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the total sales tax within your company. It is also possible to export the information to the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for central reporting.
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 when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures 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 operational expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional information. In addition, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be ideal for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it 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 get access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Amazon Fulfillment Centers
But they did state that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help 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 is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are 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 recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it help you track your products and revenue, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every 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 the subject. TaxJar Amazon Fulfillment Centers
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do then you’re better off doing it by yourself.
FAQ TaxJar Amazon Fulfillment Centers
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines the tax.