Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the funds to hire an accountant, making it your own can be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. While this is a long read, you should be able to determine if TaxJar is what you need today.
Prefer to watch videos instead? Take a look at 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 is TaxJar? TaxJar Fba Reddit
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well with your sales channel. If you’re using multiple sales channels, you must 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 collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing these. But, it is up to you and your team members to complete everything in time. TaxJar is there to help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax 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 choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. 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 all the information you require, including a list of your transactions, reports, and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help you know how much you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows you to fully view the total sales tax within your company. Additionally, you can export your data to CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more details. In addition their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to opt for the Premium plan instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of users as well as AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Fba Reddit
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to gauge whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include the 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 simple 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Fba Reddit
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow, you might be better off doing it by yourself.
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FAQ TaxJar Fba Reddit
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate your tax.
