Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. Although this is quite a long read, you should be able to gauge whether TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar TaxJar Amnesty Sales Tax
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For this review, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up to you and your team to complete everything on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales tax in order to record and process it. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as the data.
The best part about this option is the fact that it allows you to automatically update every day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the total sales tax within your company. You can also export the information to a CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers tutorials and training, not just on their platform, but for anything related to sales tax. Check out their webinars, guides as well as their blog to find more information. Additionally, their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced 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 the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. TaxJar Amnesty Sales Tax
However, they did mention that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to see whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar Amnesty Sales Tax
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow, you might be better in doing it all on your own.
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FAQ TaxJar Amnesty Sales Tax
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect 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 doesn’t convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar will calculate the tax.
