Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to engage an accountant performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Even though this is an extensive read but you’ll be able to determine if TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Reviews Of TaxJar For Shopify
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is integrate TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing them. But, it is up for you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease 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 an inventory of your transactions, reports and information.
The most appealing aspect of this feature is that it lets you to update automatically every day. They not only let you know how much you’ve earned, but they also help you track when your following payment is due.
Their dashboard also allows you to see the total sales tax in your business. It is also possible to export your data as a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
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 for something a bit more than just the basics, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to go for the Premium plan instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. Reviews Of TaxJar For Shopify
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features 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
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you do, then you should try this.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. Reviews Of TaxJar For Shopify
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure easy to complete then you’re better in doing it all on your own.
FAQ Reviews Of TaxJar For Shopify
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar will calculate your tax.