Taxes have always been among the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to hire an accountant, making it yourself can be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. Even though this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos 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, then we’ll dive right into.
What is TaxJar? TaxJar Setting Amazon Account To Collect Sales Tax In Washington
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting platform is compatible along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. So, there’s no need to gather data from different channels and then organize it on one platform. All you need to do is integrate TaxJar and the platform will do 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 the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. In our review we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle these. But, it is up to you and your team members to complete the process on time. TaxJar will only provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including a list of your transactions, reports, as well as the data.
The best part about this option is the fact that it lets you to update your account automatically each day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the sales tax totals within your company. You can also export the information to a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers tutorials and training, not just for their platform but for anything related to sales tax. You can check out their webinars, guides and blog for more information. In addition their sales tax calculator can be useful if 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 set your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the standard features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations API integrationsfor team users and AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Setting Amazon Account To Collect Sales Tax In Washington
However, they did mention that this plan is customized for every user. So the costs will vary according to what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it help you track your revenue and products, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will certainly help you to get your head around the subject. TaxJar Setting Amazon Account To Collect Sales Tax In Washington
But if handling taxes is easy 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 track everything. Moreover, if you find the whole process easy to do, you might be better to do it on your own.
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FAQ TaxJar Setting Amazon Account To Collect Sales Tax In Washington
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.
