Taxes have always been among the most difficult things to handle, 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 full of things to be done. When you’re not able to afford the funds to employ an accountant, performing the task on yourself can be risky. If you make a mistake, you might need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Virginia Sales Tax Amazon Fba
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to handle them. It is up for you and your team to finish the tax returns in time. TaxJar is there to guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you know how much you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. It is also possible to export the information in the form of a CSV file, if you want to use 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 the sales avenues you use. That means you won’t have to scramble for your documents when you’re in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also all things related to sales tax. You can check out their webinars, guides or blog posts for additional information. Apart from that their sales tax calculator is helpful if you’re planning on 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 offer superb capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you with filing requirements and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program should be ideal for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking to get that is more than the basics and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Virginia Sales Tax Amazon Fba
However, they did say that the plan is custom-made for each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by 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 recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar Virginia Sales Tax Amazon Fba
However, if managing 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. Moreover, if you find the whole procedure simple to follow, you might be better to do it by yourself.
FAQ TaxJar Virginia Sales Tax Amazon Fba
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate your tax.