Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have enough money to engage an accountant making it your own can be risky. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can assist you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Watch 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 Sales Tax Automation Plugin For Woocommerce
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather data from different channels and organize it into one platform. All you need to do is integrate TaxJar, and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to handle the tax returns. But, it is up to you and your team to complete the process within the timeframe. TaxJar is there to provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like a list of your transactions, reports, as well as the data.
The best part about this feature is that they allow you to automatically update every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. You can also export the information to the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require 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 search for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but everything connected to sales tax. You can check out their webinars, guides and blog for 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 know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan should be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for something different from the basics Professional could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to go for the Premium plan instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, API integrationsfor team users and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Sales Tax Automation Plugin For Woocommerce
However, they did mention that the plan is custom-made for each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce 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 able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar will help you get more done while keeping track of every deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Sales Tax Automation Plugin For Woocommerce
If handling your taxes is straightforward and straightforward, 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. Moreover, if you find the entire procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Sales Tax Automation Plugin For Woocommerce
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like 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 to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar will calculate your tax.