Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, doing it on your own can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Although this is quite a long read, you should be able to determine if TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Vs Quaderno
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing them. It is up to you and your team members to complete everything within the timeframe. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process 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 it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, and data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only will they let you keep track of how much 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 you to fully view the sales tax totals within your company. You can also export your data in the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can aid them in being 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 know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also everything related to sales tax. You can check out their webinars, guides or blog posts for additional information. In addition the sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get different from the basics, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to choose premium plans instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrationsfor team members and AutoFiles.
There is also a team who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Vs Quaderno
But they did state that the plan is custom-made to each user. The cost of the plan will be different in line with what you require to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online 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.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline or requirement you need to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Vs Quaderno
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Vs Quaderno
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.