Taxes have always been among the hardest things to do, whether you’re running 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 you’re filled with tasks to complete. If you don’t have the budget to engage an accountant doing it on your own could be dangerous. If you make a mistake, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar Avalara TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax platform is compatible along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. For this review, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. It is up for you and your team members to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into one dashboard using this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports, and information.
The best part about this feature is that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. Additionally, you can export the data as CSV format. CSV file if you need it for your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can look through their webinars, guides, and blog for more information. Apart from that, their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan should be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations API integrations, team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. Avalara TaxJar
But they did state that the plan is custom-made for each user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is right 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 gauge whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is 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
- 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
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not 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 laid down, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent option for accountants as they have tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. Avalara TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ Avalara TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar determines your tax.
