Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to hire an accountant, performing the task on yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Although this is quite an extensive read it is possible to determine if TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Plugin Woocommerce
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been used 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 widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
Features and services
One of the first things you’ll need to make sure is your tax-reporting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. That way, there’s no need to gather data from different channels and sort it into a single platform. All you have to do is integrate TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. In our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. However, it will be up for you and your team members to complete the process in time. TaxJar will only help you understand what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales to recording and processing it. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. 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, such as an inventory of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard can also allow you to see the overall sales taxes for your business. Additionally, you can export your data in a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have 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.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also for anything related to sales tax. You can check out their webinars, guides as well as their blog to find more information. In addition their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan could be perfect for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the basics, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to go for premium plans instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Plugin Woocommerce
But they did state that the plan is custom-made for every user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save 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.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not 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 can be a great platform businesses with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Plugin Woocommerce
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Plugin Woocommerce
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.