Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have enough money to engage an accountant performing the task on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skipping 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 simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Plugin WordPress
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect data from different channels and sort it into a single platform. All you need to do is integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to file their sales taxes either manually or via their AutoFile feature. For the purpose of this article, 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 income tax returns TaxJar will train you on managing these. However, it will be up for you and your staff to finish the tax returns on time. TaxJar will only help you understand what you should 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 fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined 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 the list of transactions, reports and information.
The best part about this option is the fact that it lets you to automatically update every day. Not only will they let you know how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. You can also export the data in a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can look through their guides, webinars, and blog for more information. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the basic features Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to go for an upgrade instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations as well as API integrationsfor team members, and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Plugin WordPress
However, they did mention that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of using TaxJar for your business.
- Does the plan include 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only can it help you track the sales and profits of your business however, it will assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Plugin WordPress
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Plugin WordPress
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USUSD before TaxJar determines the tax.