Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant making it your own could be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch 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, let’s dive right in.
What is TaxJar? TaxJar Fba Sales Tax Setting
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure is that your accounting tax software is compatible 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 missing a single minor point.
TaxJar lets you display your critical data in one location. This means that there is no need to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. For our review we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on managing these. But, it is up to you and your team to complete the process within the timeframe. TaxJar will only guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that 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 additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to everything you need, like an inventory of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals within your company. You can also export the data to the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also everything related to sales tax. You can look through their guides, webinars, and blog for more information. Additionally, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for different from the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher if you add custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to go for premium plans instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team users as well as AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Fba Sales Tax Setting
But they did state that this plan is customized for every user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to bet your life on it to determine if this service is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save 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 is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it aid in tracking your revenue and products It can also help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Fba Sales Tax Setting
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire process easy to do then you’re better off doing it on your own.
FAQ TaxJar Fba Sales Tax Setting
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate the tax.