Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, making it your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking video streaming instead? Check out 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 For Ebay Users
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. That way, there’s no requirement to collect data from different channels and then organize it on one platform. All you have to do is to integrate TaxJar, it will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. For our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income The team will guide you on managing the tax returns. It is up for you and your team to complete everything on time. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes to recording and processing it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team can access everything you need, like an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. Additionally, you can export the data as the form of a CSV file in case you require it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also everything connected to sales tax. You can check out their webinars, guides as well as their blog to find more details. Apart from that the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan should be ideal for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the basic features and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose an upgrade instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team users as well as AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar For Ebay Users
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several 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 for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar For Ebay Users
But if handling taxes is easy, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow then you’re better to do it by yourself.
FAQ TaxJar For Ebay Users
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar determines your tax.