Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the funds to employ an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. Even though this is a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar Free Version Of TaxJar Or Alvara
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns TaxJar will train you on managing the tax returns. It is up to you and your team members to complete the process on time. TaxJar will only help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let you know how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals for your business. It is also possible to export the information in a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides or blog posts for additional details. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking to get different from the basic features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of users and AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. Free Version Of TaxJar Or Alvara
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see if the platform is a good fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products It can also help you meet your deadlines. It is also a great option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to fulfill. If you live in a place with complicated tax regulations, this will certainly help you to get your mind around it. Free Version Of TaxJar Or Alvara
If handling your taxes is simple, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ Free Version Of TaxJar Or Alvara
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines the tax.
