Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant doing it on yourself can be risky. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar? Opencart TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar is 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 used extensively by owners of online businesses 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 need to make sure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you have to do is integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. For this review, we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns The team will guide you on how to handle these. It is up for you and your team members to complete the process on time. TaxJar is only there to guide you on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating taxes on sales in order to record and process it. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as the list of transactions, reports and data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to see the overall sales taxes within your company. It is also possible to export the data in the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform but all things connected to sales tax. You can check out their webinars, guides and blog for more information. Additionally, their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up 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 phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Opencart TaxJar
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor 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 to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax regulations, this will certainly help you to get your mind around it. Opencart TaxJar
If handling taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Opencart TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate 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 using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate your tax.