Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, performing the task on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. While this is an extensive read, you should be able to determine if TaxJar is 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 do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar? Rate TaxJar Taxcloud Alvaro
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting platform is compatible along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key data in one location. This means that there is no need to gather information from multiple sources and sort it into one platform. All you have to do is integrate TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on managing them. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax in order to record and process it. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of this feature is that it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow you to see the total sales tax for your business. Additionally, you can export your data in the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their guides, webinars, and blog for more information. Additionally, their 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 are aware of how important it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most effective plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan should be perfect for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding 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 have their phone customer support access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to choose premium plans instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of users and AutoFiles.
There is also a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan is going to cost. Rate TaxJar Taxcloud Alvaro
However, they did say that this plan is customized for every user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- 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 have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around it. Rate TaxJar Taxcloud Alvaro
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better in doing it all by yourself.
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FAQ Rate TaxJar Taxcloud Alvaro
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar can calculate your tax.
