Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to hire an accountant, making it your own could be dangerous. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is a long read, you should be able to gauge whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Magento Connect
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting platform is compatible along with sales funnels. If you’re using multiple sales channels, you must ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. This means that there is no need to collect information from multiple sources and organize it into one platform. All you need to do is connect TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. In our review we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to manage them. However, it will be up for you and your staff to finish the tax returns on time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales tax to recording and processing it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online 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 the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you know how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the sales tax totals for your business. Additionally, you can export the data as a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if 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 allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also all things related to sales tax. Check out their guides, webinars, as well as their blog to find 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 are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small business proprietor, then this program should be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the basic features, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to opt for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Magento Connect
However, they did say that this plan is customized for every user. So the costs will vary according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- 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
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar will help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Magento Connect
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow, you might be better off doing it by yourself.
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FAQ TaxJar Magento Connect
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into 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 currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.
