Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the funds to employ an accountant, making it your own 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. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Fba Ohio
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax 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 simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting platform perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for the filing of income tax returns The team will guide you on how to manage these. But, it is up for you and your team members to complete the process within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, such as an inventory of your transactions, reports, and data.
The greatest benefit of this option is the fact that they allow you to automatically update every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. Additionally, you can export the data in the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature will help them be 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 to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. Check out their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to go for the Premium plan instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Fba Ohio
However, they did say that this plan is customized for each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- 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
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Fba Ohio
But if handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do then you’re better off doing it on your own.
FAQ TaxJar Fba Ohio
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar determines your tax.