Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background 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 hire an accountant, doing it on yourself can be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to determine if 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 the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Or Avalara
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one place. So, there’s no need to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For our review we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to handle these. It is up to you and your team members to complete the process within the timeframe. TaxJar will only provide guidance on what you have to do but not handle it.
If you 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 sales taxes through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you require, including the list of transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help to know the amount you’ve earned, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes in your business. Additionally, you can export the information as the form of a CSV file if you need it for your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional info. Additionally the sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan to help you with filing requirements or 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 will be able to access their AI tax tips.
If you’re a small business proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrationsfor team users as well as AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Or Avalara
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to determine whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is 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
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Or Avalara
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar Or Avalara
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar can calculate your tax.
