Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, 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 your own could be dangerous. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. While this is a long read it is possible to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar TaxJar Ebay Tax Rates
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. This means that there is no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on how to handle them. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar will only guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, and the data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax for your business. Additionally, you can export your data to the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform but 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 beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter 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 the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the standard features Professional might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrations, team members and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Ebay Tax Rates
However, they did say that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has 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
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have a 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 get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Ebay Tax Rates
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better in doing it all by yourself.
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FAQ TaxJar Ebay Tax Rates
What are the areas in which TaxJar provide API support?
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.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar determines your tax.
