Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to engage an accountant making it your own could be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can help you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Rate TaxJar Taxcloud Avalara
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to gather information from multiple sources and organize 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 with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on how to handle these. It is up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle 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. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports, and the data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals within your company. Additionally, you can export the information to CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover 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 connected to sales tax. You can check out their webinars, guides and blog for more details. In addition their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan should be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get that is more than the basics, 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.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan is going to cost. Rate TaxJar Taxcloud Avalara
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to gauge whether the software is an excellent 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 take a break. To sum it all up Here are the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are 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 laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it help you track the sales and profits of your business, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your mind around it. Rate TaxJar Taxcloud Avalara
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole procedure simple to follow, you might be better off doing it on your own.
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FAQ Rate TaxJar Taxcloud Avalara
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.
