Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business 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 filled with tasks to complete. If you don’t have the funds to employ an accountant, performing the task on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can help you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Api React
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports and data.
The best part about this option is the fact that it allows you to update your account automatically each day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payments are due.
The dashboard allows you to fully view the sales tax totals in your business. You can also export the data in the form of a CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but everything related to sales tax. You can look through their guides, webinars, and blog for more information. In addition their sales tax calculator should be helpful if you’re planning on do everything on your own.
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 costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan should be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for different from the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the basic 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 advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrations, team users, and AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Api React
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to 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 recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that’s what you do, then you must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Api React
If handling your taxes is straightforward, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete, you might be better to do it on your own.
FAQ TaxJar Api React
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.