Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Xero Api
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect data in multiple channels and sort it into one platform. All you have to do is to integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. In our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to handle the tax returns. But, it is up to you and your team members to complete the process in time. TaxJar is there to help you understand what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports, and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the total sales tax for your business. Additionally, you can export the data to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, and blog for more details. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial 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 the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company proprietor, then this program could be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basic features Professional could be the one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to go for premium plans instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team members and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Xero Api
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Xero Api
If handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Xero Api
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines your tax.