Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the funds to engage an accountant making it your own can be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? Like TaxJar Avalara
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within 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.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one place. So, there’s no need to gather data from different channels and then organize it on a single platform. All you have to do is connect TaxJar and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. For this review, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on how to manage them. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as a list of your transactions, reports and information.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let you keep track of how much you’ve earned however, they can also help you determine when your next payments are due.
The dashboard allows users to view in detail the sales tax totals within your company. You can also export your data to the form of a CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help 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 basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar but it comes with 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 tools.
If you’re looking for different from the standard features Professional might be the right one 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 every one 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. You can also receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for the Premium plan instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of users and AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Like TaxJar Avalara
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require for your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- Allows you to track 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 applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it help you track your revenue and products, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar will help you get more done while keeping track of every deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around the subject. Like TaxJar Avalara
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ Like TaxJar Avalara
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync 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 currency values. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into US$ before TaxJar will calculate the tax.