Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, performing the task on your own could be dangerous. If you miss one detail it could mean you have to redo things again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. While this is a long read it is possible to gauge whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Autofile Reddit
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used 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 online business owners to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on managing the tax returns. It is up for you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that 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 it. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team will have access to everything you need, such as the list of transactions, reports and information.
The best part about this feature is that it lets you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you track when your following payment is due.
Their dashboard also allows you to see the total sales tax for your business. It is also possible to export the information to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but all things related to sales tax. You can check out their webinars, guides as well as their blog to find more details. Additionally, their sales tax calculator is 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 offer superb features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
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 sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan could be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the standard features, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for an upgrade instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrations, team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Autofile Reddit
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great option for accountants as they have the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Autofile Reddit
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do then you’re better off doing it by yourself.
FAQ TaxJar Autofile Reddit
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate the tax.