Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the funds to hire an accountant, doing it on yourself can be dangerous. If you miss one detail it could mean you have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
What can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. While this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? Wp Is Not Linking To TaxJar Api
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that can 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.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical data in one location. This means that there is no need to collect information from multiple sources and sort it into one platform. All you have to do is integrate TaxJar and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on how to manage them. However, it will be up to you and your team to complete everything within the timeframe. TaxJar will only provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. 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 need, such as an inventory of your transactions, reports and information.
The greatest benefit of this option is the fact that it allows 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 payment is due.
The dashboard allows you to fully view the sales tax totals within your company. It is also possible to export the data to a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything related to sales tax. Check out their webinars, guides, or blog posts for additional details. Apart from that their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers 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 most effective plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get a bit more than just the standard features Professional could be the one for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to choose an upgrade instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal how much the Premium plan will cost you. Wp Is Not Linking To TaxJar Api
However, they did mention that this plan is customized to each user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your head around the subject. Wp Is Not Linking To TaxJar Api
But if handling your taxes is straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do then you’re better off doing it on your own.
FAQ Wp Is Not Linking To TaxJar Api
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate the tax.