Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford enough money to engage an accountant doing it on your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy, you should be able to gauge whether TaxJar is what you need in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Vs Avalara Vs Taxamo
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything 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 want to check is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to gather data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using 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 those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle these. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales in order to record and process them. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting problems. 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, like a list of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. It is also possible to export the data as a CSV file in case you require it in your financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides, and blog for more info. In addition, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: 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 in filing and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking to get that is more than the basics Professional 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 basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for an upgrade instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Vs Avalara Vs Taxamo
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to determine if the platform 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 Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since 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 track of every deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Vs Avalara Vs Taxamo
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure simple to follow then you’re better off doing it on your own.
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FAQ TaxJar Vs Avalara Vs Taxamo
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate the tax.
