Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to engage an accountant performing the task on yourself can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is lengthy but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar For Woocommerce
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 your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting software is compatible along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. In this review, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you have to do but not 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. Through this feature, everything will be automated, from calculating sales tax in order to record and process it. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
The dashboard allows you to fully view the sales tax totals within your company. Additionally, you can export the data to a CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can look through their guides, webinars, as well as their blog to find more details. Apart from that their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish 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 levels and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan to help you with filing requirements or reporting. It includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get a bit more than just the basics and options, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So 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 support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to go for premium plans instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar For Woocommerce
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to gauge whether the software is the right choice for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce 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
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business 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 get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar For Woocommerce
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar For Woocommerce
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar determines your tax.
