TaxJar For Tracking Etsy Taxes

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Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re packed with things to do. In the event that you do not have the funds to hire an accountant, making it your own can be dangerous. If you make a mistake, you might have to redo things again!

Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.

So , what can we do about it?

We can make life easier with tools such as TaxJar.

Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require in the present.

Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.

But for those who prefer to read, let’s dive right in.

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What exactly is TaxJar? TaxJar For Tracking Etsy Taxes

The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of 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 online business owners to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.

TaxJar For Tracking Etsy Taxes

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Features and services

Integration

One of the most important things you’ll need to ensure is that your accounting tax software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.

TaxJar lets you display your most important metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on 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 to assist with payments. Here’s a list highlighting the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look into both.

If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your team to complete everything within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.

If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.

Sales Tax Reports

As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you require, including the list of transactions, reports and information.

The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.

Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the data to a CSV file in case you require it in your accounting and financial planning processes or if your team needs it for central reporting.

Training and Streamlining

TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents whenever 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 help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.

The best part is that TaxJar offers training and tutorials not only for their platform but everything connected to sales tax. You can look through their webinars, guides, or blog posts for additional information. Additionally their sales tax calculator can be useful if you’re planning to complete everything yourself.

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How much does TaxJar cost?

We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section, 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.

Starter

Their Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.

If you’re a smaller company proprietor, then this program should be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.

You can also contact their customer support via their email support chart. You’ll also have access to their integration tools.

Professional

If you’re looking to get a bit more than just the basics Professional could be the one for you. It starts at $99, however, it could go up by adding custom features.

So how different is it from the original plan?

Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.

Premium

If you have a massive enterprise, you may want to go for an upgrade instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations as well as API integrationsfor team users, and AutoFiles.

They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar For Tracking Etsy Taxes

However, they did mention that this plan is customized to each user. The cost of the plan will be different depending on what you need for 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 see if the platform is an excellent fit for you.

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Pros and Cons

After we’ve gone over everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your company.

Pros

  • There is a Tax Advisor option for some plans
  • AutoFile features to reduce time
  • Available in most USA states
  • Offers on the internet for sales tax calculator.
  • Support service team
  • The dashboard is simple to navigate
  • It offers a free trial of 30 days.
  • It can be integrated with other platforms.
  • Allows you to track multiple sales channels

Cons

  • Limits for AutoFile are based on the plan
  • AutoFile has extra fees
  • Some countries won’t be able to access the API feature.
  • Only applicable for USA customers.
  • It is important for owners and accountants to review local laws

The Final Verdict

With everything laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you should try this.

Not only will it assist you in keeping track of your revenue and products, but it can help you meet your deadlines. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.

Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this can certainly help you to get your mind around it. TaxJar For Tracking Etsy Taxes

If handling your taxes is simple, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.

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FAQ TaxJar For Tracking Etsy Taxes

Which areas does TaxJar provide API support?

TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.

Do I have the ability to connect Shopify together with TaxJar?

Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.

Can I convert any kind of currency using TaxJar?

Unfortunately, no. TaxJar does not convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar can calculate your tax.

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