Taxes are always one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it your own could be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can help you. Although this is quite an extensive read it is possible to determine if TaxJar is the tool you require in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Vs Godaddy
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical data in one location. That way, there’s no need to gather information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up to you and your team to complete the process within the timeframe. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you need, such as a list of your transactions, reports and the data.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. Additionally, you can export the data as CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to search for your documents when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar offers tutorials and training, not just for their platform but all things connected to sales tax. You can look through their webinars, guides or blog posts for additional details. Additionally the sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan could be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the basic features Professional might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to opt for premium plans instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data, API integrations, team members and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. TaxJar Vs Godaddy
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they have tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar Vs Godaddy
But if handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Vs Godaddy
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.
