Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, doing it on yourself can be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Although this is quite a long read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Introduction To Sales Tax Amazon
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting software is compatible along with sales funnels. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is to integrate TaxJar, and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For our review we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax for your business. 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 to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you need them in the event of a need. Even when you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides and blog for more info. Additionally their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan could be ideal for you. It may not have all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking to get a bit more than just the basics Professional might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to go for the Premium plan instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team members, and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Introduction To Sales Tax Amazon
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your products and revenue It can help you meet the deadlines you set. It is also a great opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Introduction To Sales Tax Amazon
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Introduction To Sales Tax Amazon
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar will calculate your tax.