Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant doing it on yourself can be risky. If you make a mistake 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.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Versus Avalara
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in a variety of industries, including 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 ensure that everything is simple and organized. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, it will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. However, it will be up to you and your team members to complete the process within the timeframe. TaxJar will only guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. 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 organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. In addition their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan should be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to accessing every one 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. Additionally, they allow you to get 12 AutoFiles for free each 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 aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Versus Avalara
However, they did mention that this plan is customized for each user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save 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 able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then ought to try this.
Not only will it help you track your revenue and products It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing 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 region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Versus Avalara
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. 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 then you’re better off doing it by yourself.
FAQ TaxJar Versus Avalara
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together 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 cannot convert currencies. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar will calculate your tax.