Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to hire an accountant, making it yourself can be risky. If you miss one detail, you might have to redo things again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can benefit you. Even though this is a long read it is possible to assess whether TaxJar is exactly 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 let’s get right into it.
What is TaxJar? TaxJar Connect With Amazon
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating sales tax to recording and processing them. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you need, such as the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the total sales tax for your business. It is also possible to export the data as a CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, or blog posts for additional details. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels 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. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program should be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for something that is more than the basics Professional may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to choose an upgrade instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data, API integrations, team users as well as AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Connect With Amazon
However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar for 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
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
It’s not just a way to help you track your revenue and products It can help you meet the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping the track of each 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 Connect With Amazon
But if handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better to do it on your own.
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FAQ TaxJar Connect With Amazon
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar can calculate the tax.
