Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant making it yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy it is possible to determine if TaxJar is what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Autofile
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates 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 get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar, it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on managing them. It is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales tax to recording and processing them. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports, and the data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the data in the form of a CSV file if you need it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything connected to sales tax. You can look through their webinars, guides as well as their blog to find more info. Apart from that their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan could be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Autofile
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the 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 can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it aid in tracking your products and revenue It can assist you in meeting your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you save more time while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar Autofile
If handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow, you might be better to do it on your own.
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FAQ TaxJar Autofile
What areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with 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. The transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate your tax.
