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 issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, doing it on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. While this is lengthy it is possible to determine if TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? TaxJar Or Avalara Trustfile
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything 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 make sure is your tax-reporting software perfectly integrates with your sales channel. If you have multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns, the team will instruct you on managing the tax returns. It is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as the data.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help you know how much you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the information in the form of a CSV file if you need it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional information. In addition, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller company owner, this plan will be perfect for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something that is more than the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support 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 run a large company, you may need to opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Or Avalara Trustfile
However, they did say that the plan is custom-made for every user. So the costs will vary according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of the use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- 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 to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Or Avalara Trustfile
But if handling your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do, you might be better off doing it on your own.
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FAQ TaxJar Or Avalara Trustfile
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar determines your tax.
