Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant doing it on yourself can be risky. If you miss one detail, you might need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. While this is lengthy but you’ll be able to assess whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar Avatax Vs Taxcloud Vs TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar, it will do all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose 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, the team will instruct you on how to manage these. However, it will be up for you and your team members to complete the process on time. TaxJar is there to help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
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 put together into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including a list of your transactions, reports, as well as the data.
The best part about this feature is that it allows you to automatically update every day. They not only let you know how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. You can also export your data to the form of a CSV file if you need it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. You can check out their webinars, guides, or blog posts for additional information. Additionally the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan should be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to choose an upgrade instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users, and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. Avatax Vs Taxcloud Vs TaxJar
However, they did say that this plan is tailor-fit for every user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated 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 have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to help you track your products and revenue It can also help you meet the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around the subject. Avatax Vs Taxcloud Vs TaxJar
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ Avatax Vs Taxcloud Vs TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate your tax.