Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to employ an accountant, performing the task on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Connect To Shopify
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It streamlines processes that take 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 institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your staff to complete everything within the timeframe. TaxJar is there to guide you on what you should do , but not to 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. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as data.
The best part about this option is the fact that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax in your business. It is also possible to export the data in CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar offers tutorials and training not only on their platform, but everything that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program could be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive company, you may need to choose premium plans instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team members and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Connect To Shopify
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require to run your business.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has 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
- Allows you to track 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 for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it help you track your products and revenue It can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar Connect To Shopify
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Connect To Shopify
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar determines your tax.