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 degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to hire an accountant, making it yourself can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar Developer Api
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple 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 spot. So, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. For the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage them. It is up to you and your staff to complete everything on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you’d 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 taxes in order to record and process them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from 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, such as the list of transactions, reports and the data.
The most appealing aspect of this feature is that it allows you to automatically update 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 payments are due.
Their dashboard also allows you to fully view the sales tax totals for your business. You can also export the data in a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but all things related to sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator is 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 establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be perfect for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the standard features Professional 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 features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members, and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Developer Api
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your company.
Free Trial
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 different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you should try this.
Not only can it aid in tracking the sales and profits of your business It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can definitely help you get your mind around it. TaxJar Developer Api
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
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FAQ TaxJar Developer Api
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar determines the tax.
