Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant doing it on yourself can be dangerous. If you miss one detail it could mean you have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Magento 2 Documentation
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. This means that there is no requirement to collect data from different channels and organize it into a single platform. All you have to do is integrate TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into 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 filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you should 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 the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as data.
The best part about this feature is that it lets you to update your account automatically each day. They not only let you know how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export the data as a CSV file if you need it for your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Magento 2 Documentation
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- AutoFile limit is 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 recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform 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.
Not only can it assist you in keeping track of the sales and profits of your business however, it will also help you meet your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Magento 2 Documentation
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Magento 2 Documentation
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines the tax.