Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on your own could be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Opencart
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar it will take care of the rest.
In addition, 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 by hand or using the AutoFile feature. In this review, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to handle them. But, it is up to you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you 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 will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you require, including a list of your transactions, reports, and the data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export the information as the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates 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 available for other operating costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can look through their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features, but it has the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get different from the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrationsfor team users and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Opencart
However, they did mention that this plan is customized to each user. So the costs will vary 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 considering different options, they offer 30 days of free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar Opencart
However, if managing taxes is easy, then TaxJar could be a waste of investment. 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 process easy to do, you might be better off doing it by yourself.
FAQ TaxJar Opencart
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate the tax.