Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to engage an accountant doing it on your own can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar Where Is Fba TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax platform seamlessly works well 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 not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is connect TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to manage these. It is up to you and your team to complete everything within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. There could be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated 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 total sales tax in your business. Additionally, you can export the information as the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but all things connected to sales tax. Check out their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator is beneficial when 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 establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It includes the tax on sales, 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 proprietor, then this program will be perfect for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact their support team with 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, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. Where Is Fba TaxJar
However, they did say that this plan is customized for every user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then should try this.
Not only will it aid in tracking your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. Where Is Fba TaxJar
If handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
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FAQ Where Is Fba TaxJar
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines your tax.
