Taxes have always been among the hardest things to do, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to engage an accountant performing the task on your own could be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is an extensive read, you should be able to assess whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Woocommerce Debug TaxJar Plugin Requested
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting software seamlessly works well with your sales channel. If you have multiple sales channels, you must keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. In our review we’ll take a look into both.
If you choose to go it alone, 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 to you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve collected, but they also help you determine when your next payments are due.
Their dashboard can also allow you to see the total sales tax in your business. Additionally, you can export the information as a CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their guides, webinars, and blog for more details. Additionally the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basics Professional might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. Woocommerce Debug TaxJar Plugin Requested
But they did state that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you do, then you ought to try this.
Not only can it assist you in keeping track of the sales and profits of your business, but it can assist you in meeting your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you live in a place with complicated tax regulations, this will definitely help you get your head around it. Woocommerce Debug TaxJar Plugin Requested
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete then you’re better in doing it all by yourself.
FAQ Woocommerce Debug TaxJar Plugin Requested
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate your tax.