Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. If you don’t have enough money to employ an accountant, performing the task on yourself can be risky. If you miss one detail it could mean you 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 is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Backfill Amazon
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to handle these. However, it will be up for you and your staff to finish the tax returns on time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports, and information.
The most appealing aspect of this feature is that they allow you to update automatically every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. You can also export the information to a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to scramble for your documents when you need them in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything related to sales tax. You can look through their guides, webinars, or blog posts for additional details. 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 set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program should be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something different from the basics, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to choose the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrations, team members as well as AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Backfill Amazon
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help 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
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only can it help you track your products and revenue, but it can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar Backfill Amazon
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar Backfill Amazon
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.
