Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, making it your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But since it’s required, we have no choice.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. Although this is quite lengthy, you should be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? Alvara Vs TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. 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 need to make sure is your tax-reporting system perfectly integrates with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your team to complete the process on time. TaxJar is only there to guide you on what you need to do , but not to handle 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. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports and information.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. It is also possible to export your data in CSV format. CSV file in case you require it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their webinars, guides, and blog for more details. In addition, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan if you need help in filing and reporting. It includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan could be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the basics Professional might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal how much the Premium plan will cost you. Alvara Vs TaxJar
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to gauge whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes many 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 also help you meet the deadlines you set. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. Alvara Vs TaxJar
However, if managing your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ Alvara Vs TaxJar
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate your tax.
