Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant making it your own could be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can always 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 help you. While this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar Quaderno Vs TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to make their business more neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, like a list of your transactions, reports, and information.
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 keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows you to see the total sales tax within your company. You can also export the information to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan 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 offers training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller business manager, the plan will be perfect for you. It might not include all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for something a bit more than just the basics Professional might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. Quaderno Vs TaxJar
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to see whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only can it help you track your revenue and products however, it will also help you meet your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around it. Quaderno Vs TaxJar
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure simple to follow then you’re better off doing it on your own.
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FAQ Quaderno Vs TaxJar
Which areas does TaxJar provide 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 connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar will calculate the tax.
