Taxes have always been among the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work 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 miss one detail, you might have to do it all over again!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. While this is a long read it is possible to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Smartcalcs Shopify
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In this review, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income The team will guide you on managing the tax returns. It is up to you and your team to complete everything in time. TaxJar will only guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything is automated, from calculating sales taxes to recording and processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. It is also possible to export your data as CSV format. CSV file if you need it for your process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also everything related to sales tax. Check out their guides, webinars, and blog for more information. Apart from that, their 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 establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company owner, this plan could be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom 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 their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Smartcalcs Shopify
However, they did say that this plan is customized to each user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you 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 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
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this can definitely help you get your mind around it. TaxJar Smartcalcs Shopify
However, if managing your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do, you might be better off doing it on your own.
FAQ TaxJar Smartcalcs Shopify
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.