Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on your own can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can help you. Even though this is a long read it is possible to assess whether TaxJar is what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Settings For Amazon
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. For our review we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns The team will guide you on how to manage the tax returns. It is up for you and your team members to complete everything on time. TaxJar will only help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to everything you need, like the list of transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. They not only let you keep track of how much you’ve earned 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 your data in CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to search for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels 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. They claim that it’s the most suitable plan for you to help you 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. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose premium plans instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Settings For Amazon
But they did state that this plan is customized for each user. The cost of the plan will be different in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it to see if this platform 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 whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to 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 can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Settings For Amazon
If handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Settings For Amazon
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar determines the tax.