Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the budget to hire an accountant, doing it on your own can be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can help you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar Services Similar To TaxJar
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system is compatible with your sales channel. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar, it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. For this review, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income The team will guide you on how to handle the tax returns. However, it will be up for you and your team members to finish the tax returns on time. TaxJar will only guide you on what you have to do , but not to 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. With this feature, everything is automated, from calculating sales tax to recording and processing them. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. Additionally, you can export the data as a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also all things connected to sales tax. Check out their webinars, guides and blog for more info. Additionally, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company owner, this plan should be ideal for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to choose premium plans instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. Services Similar To TaxJar
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor 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 valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your products and revenue It can help you meet your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. Services Similar To TaxJar
If handling your taxes is simple, 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 keep track of all of it. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ Services Similar To TaxJar
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar determines your tax.