Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant performing the task on yourself can be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? Will TaxJar File My Taxes Shopify
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply 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 can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check is that your accounting tax platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key data in one location. So, there’s no need to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through their AutoFile feature. In our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to handle the tax returns. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like the list of transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only will they let 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 you to see the sales tax totals in your business. Additionally, you can export your data in CSV format. CSV file if you need it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar offers training 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 details. In addition the sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for that is more than the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for an upgrade instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. Will TaxJar File My Taxes Shopify
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this can certainly help you to get your mind around it. Will TaxJar File My Taxes Shopify
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Will TaxJar File My Taxes Shopify
What areas does TaxJar offer API assistance?
TaxJar currently works with 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 with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate the tax.