Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially 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 could be risky. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can help you. Although this is quite a long read but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar Woocommerce TaxJar Plugin
In 2013, TaxJar was established. TaxJar is a platform that helps automate 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 that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage these. However, it will be up to you and your team to finish the tax returns in time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports, and data.
The best part about this feature is that it allows you to update automatically every day. They not only let to know the amount you’ve earned, but they also help you track when your following payments are due.
The dashboard allows you to see the total sales tax for your business. You can also export the data to a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. Check out their webinars, guides as well as their blog to find more information. In addition the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business owner, this plan could be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the standard features, 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.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose premium plans instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations API integrationsfor team members, and AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. Woocommerce TaxJar Plugin
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different depending on what you need for your company.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t 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 provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track the sales and profits of your business, but it can also help you meet your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your head around the subject. Woocommerce TaxJar Plugin
If handling your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do, you might be better off doing it on your own.
FAQ Woocommerce TaxJar Plugin
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar will calculate your tax.