Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to hire an accountant, making it your own could be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. While this is an extensive read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Avalara Vs TaxJar Reddit
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar, then the system will take care of 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 are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up for you and your staff to complete everything on time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff 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 allows you to automatically update every day. They not only let you know how much you’ve accumulated however, they can also help you track when your following payments are due.
The dashboard allows you to see the overall sales taxes in your business. You can also export your data to the form of a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides and blog for more details. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program could be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrationsfor team users and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Avalara Vs TaxJar Reddit
However, they did say that this plan is customized for each user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to risk your money to see if this platform is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar for your business.
- Has a 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 easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. Avalara Vs TaxJar Reddit
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better to do it by yourself.
FAQ Avalara Vs TaxJar Reddit
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.