Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. More so 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. If you don’t have enough money to employ an accountant, doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , 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 popular life-saving tool and how it can benefit you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Api Documentation
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. This means that there is no need to gather information from multiple sources and organize it into one platform. All you have to do is connect TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. For this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to manage the tax returns. But, it is up for you and your team members to complete the process within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports and data.
The most appealing aspect of this feature is that it lets 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 track when your following payments are due.
Their dashboard also allows you to see the total sales tax in your business. It is also possible to export the data to CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their guides, webinars, and blog for more details. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It comes with the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Api Documentation
However, they did say that this plan is customized for every user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have 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 the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To summarize, here are the pros and cons of making use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you reduce time and keep track of every deadline or requirement you need to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Api Documentation
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Api Documentation
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar determines the tax.