Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to employ an accountant, performing the task on your own could be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy but you’ll be able to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? Does Quickbooks Online Integrate With TaxJar Or Avalara
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on managing them. It is up for you and your team to complete everything in time. TaxJar will only help you understand what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team can access everything you need, like a list of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you keep track of how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. You can also export the data in the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional details. Apart from that their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for a bit more than just the basics Professional might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the basic 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 the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. Does Quickbooks Online Integrate With TaxJar Or Avalara
However, they did say that this plan is customized for each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must know about 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.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you should try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. Does Quickbooks Online Integrate With TaxJar Or Avalara
If handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better in doing it all by yourself.
FAQ Does Quickbooks Online Integrate With TaxJar Or Avalara
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate your tax.