Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to engage an accountant making it yourself can be dangerous. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Taxrate Api
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. For this review, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to handle these. However, it will be up for you and your team to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing them. There could be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team can access everything you need, such as a list of your transactions, reports, and information.
The best part about the feature you’ve chosen is it allows you to automatically update every day. They not only let you keep track of how much you’ve earned, but they also help you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax within your company. It is also possible to export the information as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have 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 levels and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It includes the tax on sales, four autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan could be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking to get different from the standard features, then the Professional plan may be the best option for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, API integrations, team members and AutoFiles.
There is also a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Taxrate Api
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products however, it will also help you meet your deadlines. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Taxrate Api
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow then you’re better to do it by yourself.
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FAQ TaxJar Taxrate Api
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like 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 kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar determines the tax.
