Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy it is possible to determine if TaxJar is what you need in the present.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? Using TaxJar For Ebay
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar it will do all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For this review, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to handle them. But, it is up to you and your team to finish the tax returns on time. TaxJar is there to help you understand what you have to 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 all forms by hand. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you require, including the list of transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. They not only let you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. You can also export the data to CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things related to sales tax. Check out their guides, webinars, and blog for more details. In addition their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business owner, this plan could 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 the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basics, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the starter 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 the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team users, and AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. Using TaxJar For Ebay
However, they did mention that the plan is custom-made to each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not 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 laid down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business It can also help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your head around the subject. Using TaxJar For Ebay
But if handling taxes is easy, 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 track all of it. If you find the entire procedure simple to follow then you’re better to do it by yourself.
FAQ Using TaxJar For Ebay
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar determines the tax.