Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, performing the task on your own could be risky. If you overlook one thing, you might have to redo things again!
Most people want 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 our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can benefit you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Woocommerce TaxJar Calculate Tax In Cart
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is 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 used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting platform is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. This means that there is no requirement to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on managing them. It is up for you and your staff to complete everything on time. TaxJar is only there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined 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 require, including an inventory of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax for your business. Additionally, you can export the information to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan should be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to go for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrations, team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. Woocommerce TaxJar Calculate Tax In Cart
But they did state that this plan is customized for each user. So the costs will vary according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to determine if the platform is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your head around it. Woocommerce TaxJar Calculate Tax In Cart
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. 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 procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ Woocommerce TaxJar Calculate Tax In Cart
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of 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 for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar can calculate your tax.
