Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant doing it on yourself can be dangerous. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is lengthy it is possible to assess whether TaxJar is the tool you require 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, then let’s get right into it.
What exactly is TaxJar? Does TaxJar Work With Shopify
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your key data in one location. This means that there is no need to gather data from different channels and organize it into a single platform. All you have to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of 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. But, it is up to you and your team to complete the process on time. TaxJar is there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, like the list of transactions, reports, as well as information.
The best part about this option is the fact that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the total sales tax within your company. It is also possible to export the data to a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but everything connected to sales tax. You can check out their webinars, guides or blog posts for additional information. In addition the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan to help you with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company manager, the plan could be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to go for the Premium plan instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations, API integrations, team members as well as AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. Does TaxJar Work With Shopify
However, they did mention that this plan is tailor-fit for each user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by 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 recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your head around the subject. Does TaxJar Work With Shopify
However, if managing your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole process easy to do then you’re better in doing it all on your own.
FAQ Does TaxJar Work With Shopify
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.