Taxes are always one of the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to engage an accountant making it your own could be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Autofile Service
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax system is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your critical data in one location. So, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns The team will guide you on managing them. It is up for you and your team members to complete everything within the timeframe. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and data.
The best part about this feature is that they allow you to update automatically every day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals within your company. You can also export the information as the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the 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 more effectively. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their webinars, guides, and blog for more information. In addition the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 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 might not include all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basic features Professional could be the one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrations, team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Autofile Service
But they did state that this plan is customized for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce 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 possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking your products and revenue however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can definitely help you get your mind around it. TaxJar Autofile Service
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do then you’re better off doing it by yourself.
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FAQ TaxJar Autofile Service
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into 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 using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines your tax.
