Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, making it yourself can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Although this is quite lengthy it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Api Key
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all 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 just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing the tax returns. But, it is up to you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as the data.
The best part about this feature is that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow you to see the total sales tax within your company. It is also possible to export the information as a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything connected to sales tax. Check out their webinars, guides or blog posts for additional info. Additionally, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan to help you in filing and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to go for premium plans instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrations, team users and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal how much the Premium plan will cost you. TaxJar Api Key
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have a 30-day 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 summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include 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 simple 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 for AutoFile are based on 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 can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and requirement you have to meet. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. TaxJar Api Key
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar Api Key
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, 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.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar will calculate the tax.