Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant performing the task on your own could be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Even though this is a long read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar Ebay
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. That way, there’s no need to gather information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar then the system will do all the rest.
In addition, 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 clients to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns The team will guide you on how to handle these. But, it is up to you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales tax in order to record and process it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help 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 will have access to all the information you require, including the list of transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. They not only let to know the amount you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. Additionally, you can export the data as the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. Check out their webinars, guides as well as their blog to find more details. Additionally, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program will be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Ebay
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to determine if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online 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 for AutoFile are based on 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track your products and revenue It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this can certainly help you to get your head around it. TaxJar Ebay
If handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Ebay
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.