Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the funds to engage an accountant making it your own could be dangerous. If you miss one detail it could mean you need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Amazon Seller
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
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Services and features
Integration
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, it is essential to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your most important data in one location. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on how to manage these. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you have to accomplish, but not manage 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 is automated, from calculating taxes on sales in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist 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 team will have access to everything you require, including a list of your transactions, reports and the data.
The greatest benefit of this feature is that it lets you to automatically update every day. They not only let you know how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to fully view the total sales tax in your business. It is also possible to export your data as CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional details. In addition the sales tax calculator can be useful if you’re planning to complete everything yourself.
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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. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
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 the tax on sales, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for different from the basic features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrations, team users and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Amazon Seller
But they did state that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can help you meet the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Amazon Seller
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure easy to complete then you’re better off doing it by yourself.
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FAQ TaxJar Amazon Seller
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.
