Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to employ an accountant, performing the task on your own could be risky. If you overlook one thing it could mean you have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar Autofile Cost
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting system perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For this review, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on managing these. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you require, including the list of transactions, reports and the data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payment is due.
The dashboard allows you to see the total sales tax within your company. Additionally, you can export the information as a CSV file if you need it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also for anything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. 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. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan will be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something that is more than the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team members and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Autofile Cost
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need for your company.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you should 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 to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- 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.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to 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 mind around it. TaxJar Autofile Cost
If handling your taxes is straightforward, 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 process easy to do, you might be better to do it on your own.
FAQ TaxJar Autofile Cost
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USUSD before TaxJar can calculate your tax.