Taxes are always one of the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
What can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. While this is a long read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Which States Does Magento Collect Tax From?
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to gather information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to 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 take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle them. But, it is up to you and your team members to complete everything on time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including the list of transactions, reports, as well as data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve earned 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 the information to the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything related to sales tax. You can check out their webinars, guides and blog for more info. Additionally, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan will be ideal for you. It may not have all the features of TaxJar, but it has all the basics you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the basic 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.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose premium plans instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of users as well as AutoFiles.
There is also a team who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Which States Does Magento Collect Tax From?
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should 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.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it help you track your revenue and products It can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Which States Does Magento Collect Tax From?
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Which States Does Magento Collect Tax From?
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.