Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, doing it on yourself can be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. While this is a long read, you should be able to gauge whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Vs Stripe
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners 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 first things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to manage these. It is up to you and your team to finish the tax returns in time. TaxJar is there to help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your team can access everything you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that it lets you to update your account automatically each day. They not only let you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the information in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but everything connected to sales tax. You can check out their guides, webinars, or blog posts for additional info. In addition the sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan will be perfect for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get 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.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to go for the Premium plan instead. It comes with all the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Vs Stripe
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not 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 provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it aid in tracking your products and revenue It can help you meet your deadlines. This is also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Vs Stripe
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Vs Stripe
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar can calculate your tax.
