Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to hire an accountant, performing the task on your own can be dangerous. 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 skip this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Check out 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 exactly is TaxJar? TaxJar Vs Avalara Reviews
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important data in one location. This means that there is no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. For our review we’ll dig into both.
If you choose 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 TaxJar will train you on how to handle these. But, it is up to you and your staff to finish the tax returns in time. TaxJar is there to 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 – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let to know the amount you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the sales tax totals for your business. It is also possible to export the data in a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of 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 when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their guides, webinars, as well as their blog to find more details. Additionally, their sales tax calculator can 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 establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the basics, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge business, you might need to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Vs Avalara Reviews
However, they did say that the plan is custom-made to 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 determine if this service is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you need to 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 the 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
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Vs Avalara Reviews
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do then you’re better to do it by yourself.
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FAQ TaxJar Vs Avalara Reviews
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar can calculate your tax.
