Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can assist you. Although this is quite an extensive read it is possible to determine if TaxJar is what you need today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar Review Of TaxJar Sales Tax Automation Plugin For Woocommerce
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to gather information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your team will have access to all the information you need, like a list of your transactions, reports, and the data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export the data in a CSV file in case you require it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can look through their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan should be ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrationsfor team users and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Review Of TaxJar Sales Tax Automation Plugin For Woocommerce
But they did state that this plan is customized for each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- 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 simple to navigate
- Offers a 30-day free trial
- 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
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. Review Of TaxJar Sales Tax Automation Plugin For Woocommerce
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure simple to follow, you might be better off doing it by yourself.
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FAQ Review Of TaxJar Sales Tax Automation Plugin For Woocommerce
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar determines the tax.
