Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, making it yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Even though this is a long read, you should be able to determine if TaxJar is what you need today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Fba
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle them. It is up to you and your team members to complete the process on time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from 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, like an inventory of your transactions, reports, as well as information.
The best part about this feature is that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to see the overall sales taxes in your business. You can also export the data as the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more information. In addition their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basics Professional could be the one for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrations, team users and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Fba
But they did state that this plan is customized to each user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it help you track your revenue and products It can help you meet your deadlines. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you save more time while keeping track of every deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Fba
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Fba
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar can calculate your tax.