Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to hire an accountant, making it your own can be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. Although this is quite a long read, you should be able to gauge whether TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar Alternatives To TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. For this review, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing the tax returns. It is up for you and your team members to complete everything in time. TaxJar will only provide guidance on what you have to accomplish, but not manage 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. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows users to view in detail the sales tax totals in your business. Additionally, you can export your data to the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also everything connected to sales tax. Check out their webinars, guides as well as their blog to find more info. In addition their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company owner, this plan could be perfect for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get that is more than the standard features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for premium plans instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the amount that the Premium plan costs you. Alternatives To TaxJar
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save 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 possible to integrate it 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 be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to help you track your revenue and products however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around the subject. Alternatives To TaxJar
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ Alternatives To TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar determines your tax.