Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Integration With Shopify
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to finish the tax returns within the timeframe. TaxJar is there to help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you need, such as a list of your transactions, reports, as well as information.
The best part about this feature is that it lets you to update your account automatically each day. Not only will they let you know how much you’ve accumulated, but they also help you determine when your next payments are due.
The dashboard allows you to see the overall sales taxes within your company. It is also possible to export the data in CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep 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 if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but for anything related to sales tax. You can look through their webinars, guides and blog for more information. Additionally 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 know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge business, you might need to opt for the Premium plan instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Integration With Shopify
But they did state that this plan is customized for each user. So the costs will vary depending on what you need for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy 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
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you do, then you should try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around the subject. TaxJar Integration With Shopify
If handling your taxes is straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar Integration With Shopify
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines the tax.
