Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have enough money to employ an accountant, making it your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to determine if TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar Smartcalcs TaxJar Api
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no need to collect data from different channels and then organize it on one platform. All you have to do is connect TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to manage the tax returns. It is up to you and your team members to complete everything on time. TaxJar is there to guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you need, like the list of transactions, reports, as well as information.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. It is also possible to export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, and blog for more info. 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 understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller company manager, the plan should be ideal for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for different from the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large company, you may need to go for premium plans instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Smartcalcs TaxJar Api
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it aid in tracking your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your head around it. Smartcalcs TaxJar Api
However, if managing your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Smartcalcs TaxJar Api
What areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar will calculate your tax.