Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to employ an accountant, making it your own could be dangerous. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. Although this is quite a long read it is possible to determine if TaxJar is the tool you require in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Api Calculations
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In this review, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to handle these. But, it is up to you and your staff to complete everything within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you need, like the list of transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals for your business. Additionally, you can export the data to the form of a CSV file in case you require it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform but everything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Additionally, their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale business owner, this plan should be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for different from the basic features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Api Calculations
However, they did say that the plan is custom-made for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- 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 be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Api Calculations
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Api Calculations
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync 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 cannot convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar determines the tax.