Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant making it your own can be risky. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. Even though this is a long read but you’ll be able to gauge whether TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Shiopify TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll want to check you have a tax accounting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no requirement to collect data from different channels and sort it into one platform. All you have to do is to integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. However, it will be up to you and your staff to finish the tax returns within the timeframe. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use 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 will have access to everything you need, such as a list of your transactions, reports and information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected however, they can also help you track when your following payments are due.
Their dashboard can also allow you to see the sales tax totals for your business. Additionally, you can export the information to CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time 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 and tutorials, not just for their platform , but also for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale company manager, the plan should be ideal for you. It may not have all the features of 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 capabilities.
If you’re looking for something that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for an upgrade instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. Shiopify TaxJar
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has a 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
- 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 applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to help you track the sales and profits of your business, but it can also help you meet your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your mind around it. Shiopify TaxJar
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire process easy to do, you might be better to do it on your own.
FAQ Shiopify TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.