Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on your own can be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can help you. While this is lengthy it is possible to determine if TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Vs Others
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales taxes. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your key metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In our review we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up for you and your team members 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’d 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 sales tax through recording, and then processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using 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 information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. They not only let you keep track of how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard also allows you to see the total sales tax within your company. You can also export the data to the form of a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for a bit more than just the standard features Professional could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for premium plans instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Vs Others
However, they did mention that the plan is custom-made for each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it aid in tracking your products and revenue It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Vs Others
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Vs Others
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar determines the tax.