Taxes have always been among the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on your own can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Api Nexus
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax 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 finish within 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 make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re using 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 data in one location. This means that there is no need to collect information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In this review, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle them. However, it will be up to you and your staff to complete the process within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything will be automated from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your staff can access everything you require, including an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. Additionally, you can export the data as the form of a CSV file if you need it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides, and blog for more info. Additionally the sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for an upgrade instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrations, team users, and AutoFiles.
There is also a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Api Nexus
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent option for accountants as they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Api Nexus
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do, you might be better in doing it all by yourself.
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FAQ TaxJar Api Nexus
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate your tax.
