Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to engage an accountant doing it on your own can be dangerous. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? Using TaxJar With Ebay
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s 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 a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. This means that there is no need to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to manage them. However, it will be up for you and your team to finish the tax returns in time. TaxJar will only help you understand what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales taxes through recording, and then processing them. 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 assist you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you require, including an inventory of your transactions, reports and information.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. Not only will they let you know how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows you to see the total sales tax for your business. You can also export your data in the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents when you need them in the event of a need. 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 allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their guides, webinars, and blog for more details. Additionally their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan should be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data API integrations, team users, and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Using TaxJar With Ebay
But they did state that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers 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 able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will certainly help you to get your mind around it. Using TaxJar With Ebay
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure simple to follow, you might be better in doing it all by yourself.
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FAQ Using TaxJar With Ebay
What areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.
