Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage 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. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Drop Shipping
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. 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 platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is connect TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle the tax returns. It is up for you and your team to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. From there, you and your team will have access to all the information you need, such as a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to see the overall sales taxes within your company. Additionally, you can export the data as the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you need them in the event of a need. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials not only on their platform, but for anything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business manager, the plan will be ideal for you. It might not include all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
There is also a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Drop Shipping
But they did state that this plan is customized for every user. The cost of the plan will be different in line with 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 for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to determine whether the software is the right choice for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides 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.
- Allows you to track 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 valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your head around the subject. TaxJar Drop Shipping
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it on your own.
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FAQ TaxJar Drop Shipping
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.
