Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to hire an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Are you looking to watch videos 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, let’s dive right in.
What is TaxJar? TaxJar With Ebay
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to 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, it will do all 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:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to manage these. It is up for you and your staff to complete the process within the timeframe. TaxJar will only guide you on what you need 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. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you require, including a list of your transactions, reports, and the data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help 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 can also allow you to fully view the total sales tax within your company. Additionally, you can export the information to a CSV file, if you want to use it for your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. You can check out their guides, webinars, and blog for more information. In addition the sales tax calculator can be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for something different from the basics Professional could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to choose the Premium plan instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar With Ebay
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides 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.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If that’s what you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar will help you reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this can definitely help you get your head around it. TaxJar With Ebay
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar With Ebay
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.
Can I connect Shopify into 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 using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into US$ before TaxJar determines the tax.
