Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to engage an accountant performing the task on your own can be dangerous. If you overlook one thing it could mean you have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Amazon Sales Tax By State
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to collect data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar then the system will do all the rest.
In addition, 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 make sales tax filings either manually or via their AutoFile feature. In our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle them. However, it will be up to you and your team members to finish the tax returns in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this feature is that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the overall sales taxes in your business. You can also export your data to a CSV file, if you want to use it in your financial planning and accounting 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. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, or blog posts for additional details. Additionally their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan to help you in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business manager, the plan could be ideal for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the standard features Professional may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for an upgrade instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Amazon Sales Tax By State
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has 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
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track your revenue and products, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Amazon Sales Tax By State
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete, you might be better off doing it on your own.
FAQ TaxJar Amazon Sales Tax By State
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar will calculate your tax.