Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related issues 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 doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar And Etsy
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key data in one location. That way, there’s no need to collect data from different channels and organize it into one platform. All you have to do is integrate TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on managing them. However, it will be up to you and your team members to finish the tax returns in time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use 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 need, such as 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 will they let to know the amount you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard also allows users to view in detail the total sales tax within your company. You can also export the data as CSV format. CSV file if you need it to aid in process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even if you already have your 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 know exactly how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. Check out their webinars, guides and blog for more info. Apart from that their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for that is more than the standard features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the basic plan?
In addition to accessing all of the 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 get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal the amount that the Premium plan costs you. TaxJar And Etsy
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to risk your money to see if this platform is 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 determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar And Etsy
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar And Etsy
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar will calculate the tax.