Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have the funds to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is a long read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar? Does TaxJar Integrate With Woocommerce
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns The team will guide you on managing the tax returns. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you need, such as an inventory of your transactions, reports and the data.
The best part about this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve earned, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals in your business. It is also possible to export your data to a CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to search for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but all things connected to sales tax. You can look through their webinars, guides, and blog for more info. Additionally, their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the basics Professional could be the one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrations, team users and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. Does TaxJar Integrate With Woocommerce
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If that’s what you do, then you ought to try this.
It’s not just a way to help you track your products and revenue It can help you meet the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. Does TaxJar Integrate With Woocommerce
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better to do it on your own.
FAQ Does TaxJar Integrate With Woocommerce
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate your tax.