Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have enough money to hire an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Shopify App
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect data from different channels and then organize it on a single platform. All you need to do is integrate TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on how to manage these. It is up for you and your staff to complete the process in time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. From there, you and your team can access everything you need, like the list of transactions, reports and data.
The best part about this option is the fact that it lets you to update automatically every day. Not only can they help to know the amount you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. You can also export your data in a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also all things connected to sales tax. Check out their guides, webinars, and blog for more information. In addition, their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company owner, this plan will be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking to get that is more than the basic features, 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.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large company, you may need to go for premium plans instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Shopify App
But they did state that the plan is custom-made for each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides 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.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you live in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Shopify App
But if handling taxes is easy, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete then you’re better in doing it all on your own.
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FAQ TaxJar Shopify App
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate the tax.
