Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on your own could be dangerous. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to assess whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar And Shopify Plus
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. 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 various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform is compatible along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. This means that there is no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on managing these. However, it will be up for you and your staff to complete the process in time. TaxJar is only there to provide guidance on what you have to 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 any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to everything you need, like a list of your transactions, reports, as well as information.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to see the total sales tax within your company. Additionally, you can export the information to the form of a CSV file in case you require it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but everything connected to sales tax. Check out their webinars, guides as well as their blog to find more information. Additionally the sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan will be ideal for you. It might not include all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar And Shopify Plus
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you live in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar And Shopify Plus
If handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar And Shopify Plus
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate the tax.