Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, performing the task on your own can be risky. If you miss one detail it could mean you need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? Woocommerce Integration TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For our review we’ll take a look into both.
If you opt 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 instruct you on managing them. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar is there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the total sales tax for your business. You can also export the information in a CSV file if you need it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. Check out their webinars, guides, and blog for more details. In addition, their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan to help you in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get different from the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. Woocommerce Integration TaxJar
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to see whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. To summarize, here are 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
- Provides Taxes on sales online calculator
- Has 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
- You can track several 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 valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to help you track your revenue and products It can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in an area with complex tax laws, this will certainly help you to get your mind around it. Woocommerce Integration TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do, you might be better to do it by yourself.
FAQ Woocommerce Integration TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD before TaxJar will calculate the tax.