Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the funds to hire an accountant, doing it on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is what you need today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? Alternative To TaxJar Or Taxcloud Woocommerce Plugin
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within minutes.
TaxJar is used 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 simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. 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 not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. That way, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is to integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on how to manage them. It is up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you require, including the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
The dashboard allows you to see the sales tax totals for your business. Additionally, you can export the information as the form of a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides, and blog for more info. Apart from that, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the basics Professional may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for premium plans instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as API integrationsfor team members, and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. Alternative To TaxJar Or Taxcloud Woocommerce Plugin
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of making use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products It can also help you meet the deadlines you set. It is also a great platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will certainly help you to get your head around it. Alternative To TaxJar Or Taxcloud Woocommerce Plugin
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do then you’re better in doing it all by yourself.
FAQ Alternative To TaxJar Or Taxcloud Woocommerce Plugin
Which areas does TaxJar offer API assistance?
TaxJar currently supports 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 with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar determines your tax.