Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have enough money to engage an accountant performing the task on your own can be dangerous. If you overlook one thing it could mean you have to redo things again!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is what you need today.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar Tax Cloud Versus TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For this review, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle these. It is up to you and your team to complete the process on time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there, you and your team can access everything you need, like a list of your transactions, reports, and data.
The best part about this feature is that they allow you to update your account automatically each day. They not only let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows you to fully view the overall sales taxes for your business. You can also export the data as the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but for anything connected to sales tax. You can look through their guides, webinars, or blog posts for additional info. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program will be ideal for you. It might not include all the features of TaxJar, but it has 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 tools.
Professional
If you’re looking to get that is more than the basics, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to go for an upgrade instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrationsfor team members, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Tax Cloud Versus TaxJar
However, they did mention that this plan is customized for each user. The cost of the plan will be different depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to determine whether the software is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it aid in tracking your revenue and products, but it can help you meet your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. Tax Cloud Versus TaxJar
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
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FAQ Tax Cloud Versus TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify 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 does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar will calculate the tax.
