Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to employ an accountant, making it yourself can be risky. If you miss one detail it could mean you have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Ebay Tax Settings By State
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In this review, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage these. But, it is up for you and your team members to complete the process in time. TaxJar will only help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes in order to record and process them. There could 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 woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, like an inventory of your transactions, reports and the data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures 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 operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but for anything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan could be perfect for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Ebay Tax Settings By State
But they did state that this plan is customized to each user. The cost of the plan will be different according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Ebay Tax Settings By State
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary 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 process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Ebay Tax Settings By State
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.