Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have enough money to hire an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. While this is lengthy, you should be able to assess whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Why Is Tax Not Calculating In Woocommerce With TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. In this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. It is up for you and your team members to complete the process on time. TaxJar is there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports, and information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. They not only let you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. Additionally, you can export the data as the form of a CSV file in case you require it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things connected to sales tax. Check out their webinars, guides or blog posts for additional 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 establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small business owner, this plan should be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for the Premium plan instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. Why Is Tax Not Calculating In Woocommerce With TaxJar
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- 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
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business however, it will also help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your head around the subject. Why Is Tax Not Calculating In Woocommerce With TaxJar
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete, you might be better to do it by yourself.
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FAQ Why Is Tax Not Calculating In Woocommerce With TaxJar
Which areas does TaxJar provide 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 connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar will calculate your tax.
