Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, performing the task on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. While this is an extensive read it is possible to assess whether TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Amazon Guide
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to handle them. However, it will be up to you and your team members to complete the process on time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team can access everything you need, like an inventory of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. You can also export your data in CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it for centralized reporting.
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’re in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things related to sales tax. Check out their guides, webinars, or blog posts for additional info. In addition the sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan should be ideal for you. It may not have all the features of TaxJar, but it has 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 tools.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the original 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 advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrations, team users as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Amazon Guide
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you should try this.
Not only can it help you track your products and revenue It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in an area with complex tax regulations, this will certainly help you to get your head around the subject. TaxJar Amazon Guide
If handling your taxes is simple, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better to do it by yourself.
FAQ TaxJar Amazon Guide
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar determines your tax.