Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, doing it on your own could be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is a long read, you should be able to gauge whether TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Fba Warehouse
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. So, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For this review, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to handle them. It is up for you and your team to complete the process in time. TaxJar is only there to guide you on 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 submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only will they let to know the amount you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax in your business. You can also export your data as CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business proprietor, then this program could be ideal for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for a bit more than just the basic features Professional may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one 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. You can also have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Fba Warehouse
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.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to determine if the platform is a good fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has 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
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business however, it will assist you in meeting your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Fba Warehouse
But if handling taxes is easy, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire process easy to do, you might be better to do it on your own.
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FAQ TaxJar Fba Warehouse
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar can calculate the tax.
