Taxes are always 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 a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, performing the task on your own could be risky. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. Although this is quite an extensive read, you should be able to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Watch 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 get right into it.
What exactly is TaxJar? TaxJar Fba Warehouses
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and finish within minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical data in one location. That way, there’s no need to gather data from different channels and organize it into one platform. All you have to do is integrate TaxJar, then the system will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on managing these. It is up for you and your team members to finish the tax returns in time. TaxJar is there to help you understand what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes to recording and processing it. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you need, such as an inventory of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax in your business. Additionally, you can export the data to a CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. You can check out their webinars, guides, and blog for more details. Additionally, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish 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 tiers and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to choose an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar Fba Warehouses
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need to run your business.
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 considering other options, they have 30 days of free trial. This should be enough time to see whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track multiple 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.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it help you track your revenue and products It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can definitely help you get your head around it. TaxJar Fba Warehouses
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole process easy to do, you might be better to do it on your own.
FAQ TaxJar Fba Warehouses
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify 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 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 into USUSD before TaxJar determines your tax.