Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the funds to employ an accountant, making it yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. While this is a long read it is possible to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Connect TaxJar To Woocommerce
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on managing them. It is up for you and your staff to finish the tax returns in time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals in your business. You can also export the data to a CSV file if you need it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but everything that has to do with sales tax. You can look through their webinars, guides, and blog for more information. In addition their sales tax calculator should be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. Connect TaxJar To Woocommerce
But they did state that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to gauge if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If this sounds like the way you do, then you should try this.
Not only can it aid in tracking your products and revenue It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Connect TaxJar To Woocommerce
If handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you have only 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 process easy to do and you’re comfortable with it, you may be better off doing it on your own.
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FAQ Connect TaxJar To Woocommerce
Which areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.
