Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford enough money to employ an accountant, doing it on yourself can be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Although this is quite a long read but you’ll be able to gauge whether TaxJar is exactly what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? TaxJar Fba Staes
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been 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 extensively used by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax software is compatible with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your most important metrics in one place. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide 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 TaxJar will train you on managing the tax returns. However, it will be up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to everything you need, such as a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payments are due.
The dashboard allows you to see the overall sales taxes in your business. Additionally, you can export your data to CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to scramble for your documents whenever you’re in the event of a need. 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.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but everything that has to do with sales tax. You can check out their guides, webinars, and blog for more info. Additionally, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program should be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for different from the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced 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 that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Fba Staes
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for 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 that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track your revenue and products It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Fba Staes
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole process easy to do then you’re better off doing it by yourself.
FAQ TaxJar Fba Staes
Which areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar determines the tax.