Taxes have always been among the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant doing it on your own could be risky. If you overlook one thing it could mean you need to repeat the process!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can help you. Although this is quite an extensive read it is possible to assess whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? 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 exactly is TaxJar? How To Add TaxJar To WordPress
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, it 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 highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to manage the tax returns. But, it is up to you and your team members to complete everything within the timeframe. TaxJar will only help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax in order to record and process them. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, such as the list of transactions, reports and data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. You can also export the data to the form of a CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program could be perfect for you. It may not offer all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every 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 help with your taxes. Additionally, they permit unlimited data import integrations, API integrationsfor team members and AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose how much the Premium plan costs you. How To Add TaxJar To WordPress
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to determine whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
- There is a 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
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
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’re doing, then should try this.
Not only will it help you track your products and revenue, but it can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around it. How To Add TaxJar To WordPress
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better to do it on your own.
FAQ How To Add TaxJar To WordPress
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate the tax.