Taxes have always been one of the hardest things to do, whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant performing the task on your own can be risky. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. While this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Tax Obligation Amazon
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to gather data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on managing these. It is up for you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including a list of your transactions, reports and information.
The best part about this option is the fact that it allows you to automatically update every day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows you to fully view the total sales tax for your business. It is also possible to export your data in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the basic features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for premium plans instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Tax Obligation Amazon
However, they did mention that this plan is customized for every user. Therefore, the cost will differ depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to determine whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- 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
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you get more done while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar Tax Obligation Amazon
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Tax Obligation Amazon
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to USUSD before TaxJar can calculate your tax.