Taxes have always been one of the most difficult tasks to complete, whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to engage an accountant making it your own could be risky. If you make a mistake, you might have to do it all over again!
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 ?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Ebay Sales Tax
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and finish within 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 it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting software is compatible along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you need to do is connect TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using their AutoFile feature. In this review, we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on managing them. However, it will be up for you and your team members to finish the tax returns on time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team can access everything you require, including the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export the data as CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator should be useful if 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 features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small business owner, this plan could be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the standard features Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to go for premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Ebay Sales Tax
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save 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 is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to help you track your revenue and products however, it will help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar Ebay Sales Tax
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Ebay Sales Tax
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar determines the tax.