Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. 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, you might have to redo things again!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Avalara Vs TaxJar Vs Taxcloud
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data from different channels and organize it into a single platform. All you need to do is integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to finish the tax returns in time. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. You can also export your data as the form of a CSV file, if you want to use it for your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, and blog for more information. Additionally their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan if you need help in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to accessing each 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 have 12 free AutoFiles each year.
If you have a massive company, you may need to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of users and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. Avalara Vs TaxJar Vs Taxcloud
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is the right choice for you.
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 pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around the subject. Avalara Vs TaxJar Vs Taxcloud
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ Avalara Vs TaxJar Vs Taxcloud
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar can calculate the tax.