Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related work 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 engage an accountant doing it on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Api Error
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. So, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is connect TaxJar it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage them. However, it will be up for you and your team to complete everything within the timeframe. TaxJar will only help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like an inventory of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. Additionally, you can export the information to CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things connected to sales tax. You can check out their guides, webinars, and blog for more details. Additionally their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan will be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking to get a bit more than just the basic features Professional could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to choose premium plans instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Api Error
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple 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 valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you should try this.
Not only will it assist you in keeping track of your products and revenue It can also help you meet the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around the subject. TaxJar Api Error
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do then you’re better off doing it by yourself.
FAQ TaxJar Api Error
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.