Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant performing the task on yourself can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But since it’s required, we have no choice.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is lengthy but you’ll be able to gauge whether TaxJar is what you need in the present.
Prefer to watch videos instead? Watch 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, we’ll dive right into.
What is TaxJar Setting Up TaxJar On Cs-Cart
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting system perfectly integrates along with sales funnels. 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 overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to collect data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns The team will guide you on how to manage these. However, it will be up to you and your staff to complete the process within the timeframe. TaxJar is there to help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales tax to recording and processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online 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 a list of your transactions, reports, and the data.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. They not only let you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. It is also possible to export your data as CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides and blog for more information. Apart from that, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business manager, the plan will be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for an upgrade instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Setting Up TaxJar On Cs-Cart
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to help you track your revenue and products, but it can help you meet the deadlines you set. It is also a great opportunity for accountants since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this can certainly help you to get your head around the subject. Setting Up TaxJar On Cs-Cart
However, if managing taxes is easy and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole process easy to do, you might be better to do it on your own.
FAQ Setting Up TaxJar On Cs-Cart
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate your tax.