Taxes have always been one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to engage an accountant making it your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. Even though this is a long read it is possible to determine if TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Autofile Fba
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. 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 software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income TaxJar will train you on managing these. But, it is up to you and your team members to finish the tax returns in time. TaxJar will only help you understand what you need to 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 fill out the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only will they let you know how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the overall sales taxes in your business. It is also possible to export your data to a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for a bit more than just the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to go for an upgrade instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar Autofile Fba
However, they did say that this plan is customized for every user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they have a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar Autofile Fba
But if handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole process easy to do, you might be better off doing it on your own.
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FAQ TaxJar Autofile Fba
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate your tax.
