Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to engage an accountant making it yourself can be risky. If you overlook one thing it could mean you 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.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. While this is a long read it is possible to determine if TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Enrolled In Autofile But Getting A Notice In TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take 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 companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. That way, there’s no need to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
In addition, 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:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns The team will guide you on how to handle them. It is up to you and your team members to complete the process on time. TaxJar is only there to help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help to know the amount 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 overall sales taxes in your business. You can also export your data to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but all things related to sales tax. You can check out their webinars, guides or blog posts for additional information. Additionally their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as 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 ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose how much the Premium plan will cost you. Enrolled In Autofile But Getting A Notice In TaxJar
However, they did mention that this plan is customized for each user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to gauge whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of making 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
- Provides on the internet for sales tax calculator
- Has 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
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you should try this.
It’s not just a way to help you track your revenue and products, but it can help you meet the deadlines you set. It is also a great opportunity for accountants since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around the subject. Enrolled In Autofile But Getting A Notice In TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do, you might be better to do it on your own.
FAQ Enrolled In Autofile But Getting A Notice In TaxJar
Which 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 connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate your tax.