Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar Does TaxJar Integrate With Shopify
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take 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.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. So, 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 it will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage these. It is up to you and your team to complete everything in time. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, such as an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help to know the amount you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to see the total sales tax in your business. You can also export the data to CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. You can look through their webinars, guides, and blog for more details. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a smaller business owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the basics and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. Does TaxJar Integrate With Shopify
But they did state that the plan is custom-made for each user. So the costs will vary according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to see whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it aid in tracking your products and revenue however, it will also help you meet your deadlines. It is also a great platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you get more done while keeping on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. Does TaxJar Integrate With Shopify
If handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ Does TaxJar Integrate With Shopify
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar determines your tax.