Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to employ an accountant, making it your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is what you need in the present.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar? Free Tax App Like TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your sales channels to ensure compliance with your sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. This means that there is no requirement to collect data in multiple channels and sort it into one platform. All you need to do is connect TaxJar then the system 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 highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. It is up to you and your team to finish the tax returns on time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you know how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals for your business. You can also export the data as CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but all things related to sales tax. You can look through their guides, webinars, and blog for more info. In addition the sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan will be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the basic features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to choose premium plans instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrations, team members, and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. Free Tax App Like TaxJar
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not 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 can be a great platform companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. Free Tax App Like TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
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FAQ Free Tax App Like TaxJar
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate your tax.
