Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the budget to hire an accountant, doing it on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Even though this is lengthy but you’ll be able to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? 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 get right into it.
What is TaxJar? Compare TaxJar To Amazon Report
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all 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 can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one place. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. In this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to handle them. However, it will be up for you and your staff to complete the process in time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales tax to recording and processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, like the list of transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals within your company. It is also possible to export the data as CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can look through their webinars, guides as well as their blog to find more information. In addition, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at 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 starts at $19. They say it’s the best plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan should be ideal for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for that is more than the basics, then the Professional plan 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?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to choose premium plans instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrations, team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Compare TaxJar To Amazon Report
However, they did mention that this plan is customized for each user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to bet your life on it to find out if the platform is 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 determine whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it aid in tracking your products and revenue It can also help you meet your deadlines. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around the subject. Compare TaxJar To Amazon Report
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it by yourself.
FAQ Compare TaxJar To Amazon Report
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.