Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to engage an accountant performing the task on yourself can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Connect TaxJar To Shopify
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting platform perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important data in one location. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll look at both.
If you opt to do it manually, 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 guide you on managing the tax returns. However, it will be up for you and your team members to complete everything on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax in order to record and process it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as the list of transactions, reports, as well as the 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 collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. You can also export the information as CSV format. CSV file if you need it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional information. In addition, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a smaller business owner, this plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team users, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the amount that the Premium plan costs you. Connect TaxJar To Shopify
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it help you track the sales and profits of your business however, it will help you meet your deadlines. It is also a great opportunity for accountants since they have a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. Connect TaxJar To Shopify
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow then you’re better off doing it by yourself.
FAQ Connect TaxJar To Shopify
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar will calculate your tax.