Our eCommerce accountants can recommend TaxJar for clients that need financial technology that provides taxation services to merchants across multiple jurisdictions.
Stripe, the electronic payments giant that provides innovative solutions to business owners, announced that it had completed acquiring TaxJar in April 2021. This new TaxJar/Stripe partnership is pretty significant for owners of small and medium online businesses. Now, Stripe clients can easily access the TaxJar sales tax calculator and use the service to stay compliant.
What is TaxJar and the Taxjar Sales Tax Calculator?
Think about how easy it is for a neighborhood deli to set up a tip jar right by the cash register. This simple business process only requires collecting tips, counting cash, and dividing it among service employees. The collection, filing, and remittance of sales taxes are not as easy as managing a tip jar, but this is where TaxJar shines.
In essence, TaxJar is a financial compliance platform that automates sales tax processes across more than 10,000 jurisdictions. At the heart of this online platform, we find the TaxJar sales tax calculator, its most famous feature. The results you get from the TaxJar sales tax calculator are delivered in real-time, accurate, and with a high degree of reliability; in fact, the company fully guarantees its accuracy. This strict adherence to compliance made TaxJar such an attraction to Stripe, but there is more you can do with this cloud service.
TaxJar can also take care of the filing and remittance of tax sales for you, and these processes can be fully automated for your convenience. With TaxJar, you never have to worry about missing a filing date or getting your sales to permit pulled in a crucial jurisdiction because you did not file or remit on time. The company also guarantees these processes.
How Much is TaxJar?
You can pursue three subscription levels with TaxJar, and they start at less than $20 per month. As of September 2021, the Starter plan was just $19 per month, and it provides clients the ability to ring up 200 orders. This plan also offers four filings per year, which works out to one filing per quarter. Let’s say your business sells in three different jurisdictions that require quarterly filing; in this case, you would be better off with the Professional plan, which starts at $99 per month, and it also provides e-commerce integrations.
Suppose your business operations involve ringing up numerous daily sales across multiple jurisdictions. In that case, the TaxJar Premium plan is a better fit, and its monthly cost would be determined by sales volume. Many e-commerce businesses opt for the Premium plan because it includes additional features such as TaxJar WooCommerce integration.
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How Do I Use TaxJar?
The highly intuitive user interface of TaxJar is another reason so many business owners have become subscribers in recent years. The TaxJar sales tax calculator runs in the cloud, so you cannot download or install any software. Thanks to the numerous integrations available, a basic TaxJar account would be the “manual” way to use the service, but you don’t have to do this.
If you are a QuickBooks user, connecting to TaxJar is visiting the Linked Accounts section and following the steps therein. If you are an e-commerce operator, you can easily click through dedicated integrations; for example, TaxJar Squarespace or TaxJar Amazon. The TaxJar sales tax API is available in Python, Java, .NET, and many other coding languages if you use a proprietary system.
How Can I Get Started With TaxJar?
Contact Fusion CPA today if you need to learn more about TaxJar. We can help you integrate your accounting software like QuickBooks and your e-commerce shopping cart, and we can also explain the process so that you know what is happening in the background. Once the automated tasks start, you can focus on other aspects of your business, such as promotion and expansion.
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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.
