Taxes are always one of the hardest things to do regardless of whether you run a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy, you should be able to assess whether TaxJar is what you need today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Woocommerce Not Working
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to gather data from different channels and organize it into a single platform. All you have to do is connect 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 platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For our review we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on managing these. But, it is up to you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you have to 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 any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing it. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you know how much you’ve collected, but they also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the information in a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides, and blog for more info. In addition, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for that is more than the basics Professional could be the one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Woocommerce Not Working
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then should try this.
Not only can it aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Woocommerce Not Working
However, if managing taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar Woocommerce Not Working
Which 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 into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USUSD before TaxJar can calculate your tax.
