Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have the funds to employ an accountant, doing it on your own could be risky. If you overlook one thing, you might have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can assist you. While this is an extensive read but you’ll be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Sales Tax Calculator Ebay
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s 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 your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax system is compatible 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 allows you to show your key metrics in one spot. So, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For our review we’ll look into both.
If you decide to manually file your tax returns, 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 them. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar is only there to help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes to recording and processing it. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated 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 sales tax totals in your business. It is also possible to export the data in the form of a CSV file if you need it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their guides, webinars, and blog for more information. Additionally the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb 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 structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company proprietor, then this program should be perfect for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get a bit more than just the basic features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan will cost you. TaxJar Sales Tax Calculator Ebay
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you should try this.
Not only can it aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Sales Tax Calculator Ebay
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
FAQ TaxJar Sales Tax Calculator Ebay
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar determines your tax.