Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to engage an accountant making it your own can be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar International Woocommerce
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your 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 various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax software is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar, and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team members to complete the process in time. TaxJar is only there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, such as a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. It is also possible to export your data in the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures 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 for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides, or blog posts for additional info. In addition, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It also includes the tax on sales, four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get different from the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large business, you might need to go for the Premium plan instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar International Woocommerce
But they did state that the plan is custom-made for every user. So the costs will vary in line with what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To summarize, here are the pros and cons of making use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should review local laws
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 you should try this.
Not only will it aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this can definitely help you get your head around the subject. TaxJar International Woocommerce
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar International Woocommerce
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate your tax.