Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, doing it on your own can be risky. If you overlook one thing it could mean you have to do it all over again!
Most people want to avoid this step. But since it’s required, we have no choice.
What can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Vs Avalara
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns The team will guide you on how to manage these. However, it will be up to you and your staff to complete everything in time. TaxJar will only help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, 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 team can access everything you require, including a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to see the overall sales taxes for your business. Additionally, you can export the data as CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional details. Additionally, their sales tax calculator should 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 can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support, API access, 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 opt for premium plans instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users as well as AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Vs Avalara
However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see 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 be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Vs Avalara
But if handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire process easy to do then you’re better in doing it all on your own.
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FAQ TaxJar Vs Avalara
What areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.
