Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, making it your own can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite a long read it is possible to determine if TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? Avalara TaxJar Fba Compare
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your most important data in one location. So, there’s no need to gather data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. In this review, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing the tax returns. But, it is up for you and your team to complete everything in time. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through 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 option is the fact that it lets you to automatically update every day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. It is also possible to export your data in a CSV file if you need it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things that has to do with sales tax. Check out their webinars, guides and blog for more info. In addition their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to opt for premium plans instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the amount that the Premium plan is going to cost. Avalara TaxJar Fba Compare
But they did state that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is easy 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
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your mind around it. Avalara TaxJar Fba Compare
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ Avalara TaxJar Fba Compare
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate your tax.
