Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Api Xml
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather information from multiple sources and organize it into one platform. All you have to do is to integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage these. However, it will be up to you and your team to complete everything within the timeframe. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. It is also possible to export the data to a CSV file if you need it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents when you need them in the event of a need. Even even if you already have an accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials not only on their platform, but everything connected to sales tax. You can look through their webinars, guides, and blog for more information. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be 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 these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the basics, then the Professional plan might be the right one for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive business, you might need to go for premium plans instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Api Xml
However, they did say that the plan is custom-made for each user. So the costs will vary according to what you require for your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to see whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of using TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are 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 laid out TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to aid in tracking your revenue and products It can help you meet your deadlines. This is also an excellent platform for an accountant since they offer tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Api Xml
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar Api Xml
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar can calculate your tax.
