Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. While this is an extensive read it is possible to determine if TaxJar is what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Magento 2,2
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical data in one location. So, there’s no need to collect data in multiple channels and then organize it on one platform. All you have to do is connect TaxJar and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns TaxJar will train you on how to handle the tax returns. But, it is up for you and your team members to complete the process within the timeframe. TaxJar is only there to provide guidance 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 submit the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if not part of the plan you choose.
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 combined into one dashboard using this platform. From there you and your team can access everything you require, including the list of transactions, reports, as well as the data.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. You can also export the information to a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything related to sales tax. You can look through their guides, webinars, and blog for more info. Additionally their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements 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 basic plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program will be perfect for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking to get different from the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Magento 2,2
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to bet your life on it 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 see whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To sum it all up, here are the pros and cons of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Magento 2,2
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find 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 Magento 2,2
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one 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 US$ before TaxJar can calculate your tax.