Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar 50 State Autofile
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales taxes. 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 utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle them. But, it is up for you and your team members to complete the process in time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. Additionally, you can export the information in a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top 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 can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also all things connected to sales tax. You can check out their webinars, guides, and blog for more information. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to set 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 examine TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan could be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for different from the basics, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar 50 State Autofile
But they did state that this plan is tailor-fit for every 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 determine if this service is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track your revenue and products It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar 50 State Autofile
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar 50 State Autofile
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar can calculate your tax.