Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have the funds to employ an accountant, doing it on your own could be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. While this is lengthy but you’ll be able to gauge whether TaxJar is exactly what you need today.
Are you looking to watch videos instead? 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, then we’ll dive right into.
What exactly is TaxJar? TaxJar Magento 2
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is 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 that your accounting tax system perfectly integrates with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your most important data in one location. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage them. It is up for you and your staff to complete everything in time. TaxJar is there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. They not only let to know the amount you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. It is also possible to export the information as the form of a CSV file if you need it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything connected to sales tax. You can check out their guides, webinars, and blog for more information. Apart from that the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company owner, this plan will be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
In addition, you can reach 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 could be the one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large business, you might need to go for an upgrade instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrations, team members and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Magento 2
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of 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 a region with a lot of tax regulations, this will certainly help you to get your head around it. TaxJar Magento 2
However, if managing your taxes is straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Magento 2
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate your tax.