Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to hire an accountant, making it yourself can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Avalara Or TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. This means that there is no need to collect data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar, then the system will take care of 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 that they can connect with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In this review, we’ll look at both.
If you decide to do it manually, 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 how to handle the tax returns. However, it will be up for you and your staff to complete everything on time. TaxJar will only help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. 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 will have access to all the information you need, such as a list of your transactions, reports, and information.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. It is also possible to export the data in the form of a CSV file if you need it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to scramble for your documents when you need them in the event of a need. 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 will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator is 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 set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company owner, this plan will be ideal for you. It might not include all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the standard features Professional could be the one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for the Premium plan instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team members, and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Avalara Or TaxJar
But they did state that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. It 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 need to know about TaxJar let’s take a break. To summarize we’ll go over the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It’s also an excellent option for accountants as they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this will surely help you wrap your head around the subject. Avalara Or TaxJar
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire process easy to do, you might be better off doing it by yourself.
FAQ Avalara Or TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.