Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is lengthy, you should be able 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 do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar And Ebay
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather data from different channels and sort it into one platform. All you have to do is connect TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up for you and your team members to complete the process on time. TaxJar is there to guide you on 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 fill out all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing it. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports, and the data.
The best part about this feature is that they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. It is also possible to export the information as the form of a CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides and blog for more information. 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 set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan should be perfect for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basic features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to opt for premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of members as well as 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 And Ebay
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your business.
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to help you track your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar And Ebay
If handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ TaxJar And Ebay
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines the tax.