Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the funds to hire an accountant, doing it on yourself can be risky. If you miss one detail, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is a long read it is possible to assess whether TaxJar is the tool you require today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar Magento 1 Sales_Flat_Order Table State Processing TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is integrate TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to manage these. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is only there to help you understand what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, like an inventory of your transactions, reports and the data.
The best part about this option is the fact that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. It is also possible to export your data as CSV format. CSV file in case you require it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but all things connected to sales tax. You can check out their webinars, guides and blog for more info. Additionally, their sales tax calculator should be 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. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan could be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the basic features Professional might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for premium plans instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Magento 1 Sales_Flat_Order Table State Processing TaxJar
However, they did mention that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your company.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform 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 break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include the 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 simple to navigate
- The company offers a 30-day trial for free.
- It is able to 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 have access to the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only will it aid in tracking your products and revenue however, it will assist you in meeting your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax regulations, this will definitely help you get your mind around it. Magento 1 Sales_Flat_Order Table State Processing TaxJar
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ Magento 1 Sales_Flat_Order Table State Processing TaxJar
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USUSD before TaxJar determines your tax.