Taxes have always been one of the hardest things to do, whether you’re running your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Even though this is lengthy it is possible to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar And Competitors Review
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no need to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on managing these. But, it is up for you and your staff to finish the tax returns on time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you 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 is automated, from calculating sales tax through recording, and then processing them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, such as a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. You can also export your data in CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but all things related to sales tax. You can look through their webinars, guides as well as their blog to find more information. Additionally their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan to help you in filing and reporting. It also includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program should be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get different from the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
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 the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose premium plans instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar And Competitors Review
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- 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.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it help you track your products and revenue, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar can help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar And Competitors Review
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ TaxJar And Competitors Review
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar determines the tax.