Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant making it yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Although this is quite lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Shopify
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that require 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 businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. But, it is up for you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can 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 will have access to everything you need, like the list of transactions, reports, as well as data.
The best part about this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows you to see the total sales tax within your company. It is also possible to export your data to a CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. In addition the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business proprietor, then this program could be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the standard features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Shopify
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then should try this.
Not only will it aid in tracking the sales and profits of your business however, it will assist you in meeting your deadlines. This is also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your mind around it. TaxJar Shopify
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of 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 find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Shopify
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.