Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to hire an accountant, doing it on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need 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 review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Api International Tax Rate
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. So, there’s no requirement to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to handle these. It is up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to everything you need, such as an inventory of your transactions, reports, and the data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned, but they also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals in your business. It is also possible to export your data to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also everything related to sales tax. You can check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Api International Tax Rate
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax 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.
- You can track several 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 valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it aid in tracking your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar Api International Tax Rate
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better in doing it all by yourself.
FAQ TaxJar Api International Tax Rate
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar can calculate your tax.