Taxes have always been one of the hardest things to do, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage an accountant performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. While this is a long read it is possible to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Using TaxJar For Amazon
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been used in various industries like 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 neat and simple. Let’s look into the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. That way, there’s no need to gather data from different channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on managing the tax returns. However, it will be up to you and your staff to complete everything in time. TaxJar is there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from 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 need, like a list of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. You can also export your data as a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to scramble for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also all things connected to sales tax. You can check out their guides, webinars, or blog posts for additional info. Additionally the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get a bit more than just the basic features Professional might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to opt for the Premium plan instead. It includes all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrations, team users, and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. Using TaxJar For Amazon
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see if the platform is a good fit for you.
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Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products It can also help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. Using TaxJar For Amazon
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ Using TaxJar For Amazon
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of 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 type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar determines your tax.
