Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the funds to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy, you should be able to gauge 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 provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Magento 1 Extension Not Appearing
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting software seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. 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 connect TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to manage these. But, it is up for you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as the list of transactions, reports, and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows you to see the sales tax totals for your business. Additionally, you can export the information in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but all things related to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not offer all the features of TaxJar however, it does include 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 capabilities.
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Magento 1 Extension Not Appearing
However, they did say that the plan is custom-made for every user. So the costs will vary depending on what you need for your company.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it aid in tracking your products and revenue It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can help you reduce time and keep on top of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Magento 1 Extension Not Appearing
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow, you might be better to do it on your own.
FAQ TaxJar Magento 1 Extension Not Appearing
What are the areas in which TaxJar offer 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 link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar can calculate the tax.