Taxes have always been one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the budget to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping 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 make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. While this is lengthy, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar How To Autofile In TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize 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 take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar then the system will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through their AutoFile feature. In this review, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your staff to complete the process within the timeframe. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. All orders made through 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 everything you need, like the list of transactions, reports, as well as data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. They not only let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. Additionally, you can export your data as the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides, or blog posts for additional info. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something that is more than the standard features, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to choose an upgrade instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of users and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. costs you. How To Autofile In TaxJar
However, they did say that this plan is customized to each user. The cost of the plan will be different according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online 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.
- Allows you to track multiple 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 applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you should try this.
It’s not just a way to aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It is also a great platform for an accountant since they provide the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your head around it. How To Autofile In TaxJar
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, 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 How To Autofile In TaxJar
What areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate the tax.
