Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to employ an accountant, performing the task on your own could be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
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 tool and explain how it can assist you. Even though this is a long read but you’ll be able to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? 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 let’s dive right in.
What exactly is TaxJar? TaxJar Marketplace Sales Amazon
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage these. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to guide you on what you should accomplish, but not manage 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. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
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 compiled into a single dashboard via this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports, and data.
The best part about this feature is that it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to see the total sales tax within your company. It is also possible to export your data in a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, and blog for more details. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller company owner, this plan should be ideal for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something a bit more than just the standard features Professional may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to choose premium plans instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrations, team users as well as AutoFiles.
There is also a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Marketplace Sales Amazon
But they did state that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides 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.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue It can also help you meet your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Marketplace Sales Amazon
However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar Marketplace Sales Amazon
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.
