Taxes have always been among the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. Even though this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? Marketplace TaxJar Woocommerce Plugin
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide 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 handle these. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar will only guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating taxes on sales to recording and processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to everything you need, such as an inventory of your transactions, reports, and information.
The best part about the feature you’ve chosen is it allows you to update automatically every day. They not only let you know how much you’ve accumulated, but they also help you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals for your business. It is also possible to export the information in a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything related to sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for different from the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. Marketplace TaxJar Woocommerce Plugin
However, they did say that the plan is custom-made to each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to assist you in keeping track of your products and revenue It can help you meet the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. Marketplace TaxJar Woocommerce Plugin
However, if managing your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better to do it by yourself.
FAQ Marketplace TaxJar Woocommerce Plugin
What areas does TaxJar offer 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 into TaxJar?
Yes. You can sync your Shopify account to 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 cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar will calculate your tax.