Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to engage an accountant doing it on your own could be risky. If you miss one detail it could mean you have to redo things again!
Most people want to skip this step. But since it’s required, we have no choice.
What can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need today.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar In WordPress
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your critical data in one location. This means that there is no need to gather data from different channels and organize it into one platform. All you need to do is to integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. For our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns The team will guide you on how to manage the tax returns. But, it is up for you and your team members to finish the tax returns in time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports and data.
The best part about this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. You can also export the information as CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional information. Additionally their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the standard features, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar In WordPress
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple 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 valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
It’s not just a way to help you track your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need 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 the subject. TaxJar In WordPress
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow, you might be better off doing it by yourself.
FAQ TaxJar In WordPress
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar determines the tax.