Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. While this is an extensive read, you should be able to gauge whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Sales Tax Providers Services Fba
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one place. So, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For our review we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage them. But, it is up for you and your team to complete everything within the timeframe. TaxJar is only there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales to recording and processing them. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled 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, like a list of your transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. Not only will they let 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 fully view the overall sales taxes in your business. It is also possible to export the data in a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but all things related to sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that the sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan will be ideal for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for different from the basics and options, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team members, and AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Sales Tax Providers Services Fba
However, they did say that this plan is customized for each user. So the costs will vary according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To sum it all up Here are the pros and cons of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several 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 to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Sales Tax Providers Services Fba
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ TaxJar Sales Tax Providers Services Fba
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate the tax.
