Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have enough money to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? Cheap Alternatives To TaxJar Or Avlara
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key data in one location. This means that there is no need to gather data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on managing them. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. You can also export your data in a CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It comes with the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for that is more than the basic features Professional may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrationsfor team users, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Cheap Alternatives To TaxJar Or Avlara
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to see if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is simple 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 be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will definitely help you get your mind around it. Cheap Alternatives To TaxJar Or Avlara
If handling taxes is easy, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete then you’re better off doing it by yourself.
FAQ Cheap Alternatives To TaxJar Or Avlara
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect 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 with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you will need to convert it to USUSD before TaxJar determines the tax.