Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have the funds to employ an accountant, performing the task on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Too Many Api Calls
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only 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 simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check is that your accounting tax software is compatible along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. This means that there is no requirement to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, it will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team to finish the tax returns on time. TaxJar will only guide you on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is it allows you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. It is also possible to export your data in a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, and blog for more details. Additionally their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something different from the basic 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.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data, API integrations, team users as well as AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Too Many Api Calls
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by 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 check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar can help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar Too Many Api Calls
But if handling your taxes is 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 track everything. Moreover, if you’re finding the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Too Many Api Calls
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.