Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to engage an accountant performing the task on your own could be risky. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with 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 tool and explain how it can help you. Although this is quite a long read it is possible to assess whether TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? Why Is TaxJar So Much Cheaper Than Avalara
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized 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 from different channels and sort it into one platform. All you have to do is connect TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage these. But, it is up to you and your staff to complete the process on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. There could be additional costs if the feature is not included in the plan you chose.
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 a single dashboard via this platform. From there you and your team will have access to all the information you need, like a list of your transactions, reports and data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you track when your following 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 a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even when you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but for anything connected to sales tax. Check out their guides, webinars, as well as their blog to find more information. In addition the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the standard features, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to opt for an upgrade instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users, and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan costs you. Why Is TaxJar So Much Cheaper Than Avalara
But they did state that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around it. Why Is TaxJar So Much Cheaper Than Avalara
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 keep track of everything. In addition, if you find the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ Why Is TaxJar So Much Cheaper Than Avalara
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.