Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want 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 make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can assist you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need right now.
Are you looking video streaming 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, then we’ll dive right into.
What exactly is TaxJar? Connect TaxJar To Shopify For Free
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just 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 used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting software seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. That way, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to handle them. It is up to you and your team to finish the tax returns within the timeframe. TaxJar will only guide you on what you need to accomplish, but not manage 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 is automated, from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like the list of transactions, reports, as well as the data.
The best part about the feature you’ve chosen is they allow you to update automatically every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the information in a CSV file in case you require it for your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but all things related to sales tax. You can look through their webinars, guides, and blog for more information. In addition their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business manager, the plan will be ideal for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for different from the basic features and options, 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.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to choose an upgrade instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, API integrations, team users and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. Connect TaxJar To Shopify For Free
However, they did say that the plan is custom-made for every user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then should try this.
It’s not just a way to aid in tracking your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will certainly help you to get your mind around it. Connect TaxJar To Shopify For Free
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do, you might be better off doing it on your own.
FAQ Connect TaxJar To Shopify For Free
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate your tax.