Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. 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 enough money to hire an accountant, making it your own could be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is an extensive read, you should be able to determine if TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar? Connect TaxJar To Shopify Plan
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used 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 neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important metrics in one place. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing them. But, it is up to you and your team members to complete everything in time. TaxJar is only there to guide you on what you should 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 any forms manually. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you need, like the list of transactions, reports and data.
The best part about this option is the fact that it lets you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. Additionally, you can export the data in the form of a CSV file if you need it for your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. 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 accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides and blog for more info. In addition, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. 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 in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company owner, this plan will be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the standard features Professional might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to opt for premium plans instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team users and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal how much the Premium plan is going to cost. Connect TaxJar To Shopify Plan
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for 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 looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to 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 applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around it. Connect TaxJar To Shopify Plan
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure easy to complete then you’re better to do it on your own.
FAQ Connect TaxJar To Shopify Plan
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar determines the tax.