Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Api License
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. 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 system seamlessly works well along with sales funnels. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather data from different channels and sort it into one platform. All you have to do is integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on managing these. However, it will be up to you and your team to complete everything on time. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales in order to record and process them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you require, including an inventory of your transactions, reports, and data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. It is also possible to export the data in CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in the event of a need. Even even if you already have an 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 money more efficiently. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. In addition the sales tax calculator is 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 features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan to help you in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller business owner, this plan should be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Api License
But they did state that this plan is customized for each user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
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 platform for an accountant since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Api License
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete, you might be better off doing it by yourself.
FAQ TaxJar Api License
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate your tax.