TaxJar And Shopify

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Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the budget to engage an accountant doing it on your own could be risky. If you miss one detail and you don’t know it, you may have to redo things again!

Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.

So what can we do about it?

We can make our lives easier with tools such as TaxJar.

Here we’ll take a look at this popular life-saving tool and explain how it can help you. While this is lengthy it is possible to gauge whether TaxJar is the tool you require today.

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 analysis of TaxJar’s features.

But for those who prefer to read, let’s get right into it.

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What is TaxJar? TaxJar And Shopify

In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of 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 finish within only a few minutes.

TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.

What can it do to help you?

TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.

TaxJar And Shopify

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Features and services

Integration

One of the first things you’ll need to ensure you have a tax accounting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.

TaxJar allows you to show your key data in one location. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is connect TaxJar, it will do the rest.

In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows customers to make sales tax filings by hand or using the 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 of the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on managing these. It is up for you and your team to finish the tax returns on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.

If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if not part of the plan you choose.

Sales Tax Reports

As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team can access everything you require, including the list of transactions, reports, and the data.

The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.

Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export the information in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for central reporting.

Training and Streamlining

TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.

Moreover, knowing the estimates 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 to cover other operating costs.

But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Apart from that the sales tax calculator should be helpful if you’re planning on complete everything yourself.

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How much does TaxJar cost?

We are aware of how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.

Starter

Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax recommendations.

If you’re a small business proprietor, then this program could be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.

In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration capabilities.

Professional

If you’re looking for different from the basic features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher when you add additional features.

What is the difference from the basic plan?

Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.

Premium

If you have a massive enterprise, you may want to go for the Premium plan instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team users as well as AutoFiles.

They also have a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar And Shopify

However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require to run your business.

Free Trial

Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to gauge if the platform is a good fit for you.

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Pros and Pros and

Now that we’ve covered all you need to know about TaxJar let’s take a breather. To summarize, here are the pros and cons of using TaxJar to run your business.

Pros

  • There is the Tax Advisor option for some plans
  • AutoFile features can help you to reduce time
  • Available in most USA states
  • Provides an online sales tax calculator
  • Has support service team
  • The dashboard is easy to navigate
  • It offers a free trial of 30 days.
  • It can be integrated with other platforms
  • You can track several sales channels

Cons

  • 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 for USA customers.
  • It is important for owners and accountants to check local legislation

The Final Verdict

With everything clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.

Not only will it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.

Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar And Shopify

However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do then you’re better in doing it all on your own.

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FAQ TaxJar And Shopify

What areas does TaxJar provide API assistance?

TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.

Can I connect Shopify into 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 doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.

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