Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to engage an accountant performing the task on your own could be dangerous. If you overlook one thing, you might 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 about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Sales Tax Automation Open Cart
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that 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 them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team can access everything you need, such as the list of transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the total sales tax within your company. Additionally, you can export your data to CSV format. CSV file if you need it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their guides, webinars, and blog for more info. 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 understand how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company owner, this plan could be ideal for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrations, team users as well as AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Sales Tax Automation Open Cart
However, they did say that this plan is customized for each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine if the platform is the right choice for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has 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
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t 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 clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business however, it will help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Sales Tax Automation Open Cart
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it by yourself.
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FAQ TaxJar Sales Tax Automation Open Cart
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines your tax.
