Taxes are always one of the hardest things to do regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage an accountant doing it on your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer to watch videos instead? Take a look at 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 is TaxJar? TaxJar Plus Autofile
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. That way, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on how to handle these. But, it is up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales tax in order to record and process it. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export your data in CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional details. Additionally the sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into 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
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program should be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for something that is more than the basic features Professional may be the best option for you. It’s priced at $99 however, it could go up by adding 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 have their phone customer support access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to choose premium plans instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Plus Autofile
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up, here are the pros and cons of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it help you track your revenue and products however, it will 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 regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline or requirement you need to meet. If you live in an area with complex tax laws, this will surely help you wrap your head around the subject. TaxJar Plus Autofile
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do then you’re better to do it on your own.
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FAQ TaxJar Plus Autofile
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate the tax.
