Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about 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 a long read it is possible to assess whether TaxJar is what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? Woocommerce TaxJar Doesn’T Calculate Tax Unless Logged Into Wordpres
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the most important things you’ll want to check is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes manually or through their AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income The team will guide you on managing them. But, it is up for you and your staff to complete everything in time. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team will have access to all the information you require, including the list of transactions, reports, and data.
The best part about this feature is that it lets you to update automatically every day. They not only let you know how much you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the overall sales taxes in your business. You can also export your data as a CSV file if you need it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more details. Additionally, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan to help you in filing and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company manager, the plan should be ideal for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
There is also a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. Woocommerce TaxJar Doesn’T Calculate Tax Unless Logged Into Wordpres
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you ought to try this.
Not only can it help you track your revenue and products It can help you meet the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. Woocommerce TaxJar Doesn’T Calculate Tax Unless Logged Into Wordpres
If handling 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 channels of sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
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FAQ Woocommerce TaxJar Doesn’T Calculate Tax Unless Logged Into Wordpres
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync 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 doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.
