Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have enough money to employ an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do ?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Even though this is lengthy, you should be able to gauge whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar For Ebay
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. So, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar it 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 are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns The team will guide you on how to handle these. But, it is up for you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. It is also possible to export your data in the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional information. Apart from that their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan should be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get 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 when you add additional features.
How different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar For Ebay
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to 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
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar For Ebay
However, if managing your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete then you’re better to do it by yourself.
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FAQ TaxJar For Ebay
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 together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar can calculate the tax.
