Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to employ an accountant, doing it on your own can be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Woocommerce Subscriptions
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. But, it is up to you and your team to complete everything on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to everything you need, such as a list of your transactions, reports, and data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you track when your following payments are due.
The dashboard allows users to view in detail the total sales tax in your business. Additionally, you can export the information in a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but all things related to sales tax. You can look through their webinars, guides or blog posts for additional info. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task 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 examine TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for that is more than the standard features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for an upgrade instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Woocommerce Subscriptions
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your business.
- There is the 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 easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to help you track your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Woocommerce Subscriptions
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
FAQ TaxJar Woocommerce Subscriptions
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar determines your tax.