Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have enough money to engage an accountant performing the task on your own could be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
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 popular life-saving device and how it can benefit you. Even though this is lengthy it is possible to assess whether TaxJar is what you need in the present.
Do you prefer 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, then we’ll dive right into.
What is TaxJar? TaxJar And Amazon
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that 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 companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on managing them. However, it will be up for you and your staff to complete the process in time. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you require, including an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of 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 overall sales taxes in your business. You can also export the data to CSV format. CSV file if you need it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but everything connected to sales tax. You can look through their webinars, guides or blog posts for additional information. In addition, 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 understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get that is more than the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to go for the Premium plan instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data API integrations, team users, and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar And Amazon
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking your products and revenue however, it will also help you meet your deadlines. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar And Amazon
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole process easy to do then you’re better to do it by yourself.
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FAQ TaxJar And Amazon
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate the tax.
